Investors are flocking to precious metals amid geopolitical tensions and expectations of more US interest rate cuts.

The gold price has hit another record high, trading above $4,400 (£3,275) an ounce for the first time.

The price of the precious metal has risen on expectations the US central bank will cut interest rates further next year, analysts said.

Gold started the year worth $2,600 an ounce, but geopolitical tensions, the Trump tariffs and expectations of rate cuts have added to investor demand for safe haven assets, such as gold and other commodities.

  • Pistcow@lemmy.world
    10·
    10 days ago

    So I bought an ounce of gold from Costco for $2800 and then later sold for $4200. Sold a bunch of silver at $50 and thought that was nuts but it keeps going up.

    Im not sure how you have the stock market so over valued and precious metals through the roof at the same time. Everyone else knows its a bubble but pretend it isnt.

  • ExtremeDullard@piefed.socialEnglish
    3·
    10 days ago

    Also, the orange utan is using half of the world’s supply of gold to turn the White House into a gaudy Saudi-esque palace, driving up prices.