Gold prices have soared to new heights, surpassing
$2,200 per troy ounce, driven by the Federal Reserve’s dovish stance on
interest rates despite rising inflation. The surge in
prices is also attributed to increased central bank buying,
geopolitical tensions, and a weakening dollar.
While some analysts warn of a possible pullback,
others remain bullish, citing factors such as continued central bank
buying, potential retail investor interest, and gold’s role
as a hedge against stock market risks. Predictions vary, with some
analysts suggesting prices could reach $2,500-$2,600 per ounce.
Gold prices hit a record high above $2,200 after the Fed’s dovish press conference
March 21, 2024
Article from Fortune by Will Daniel
Article Synopsis
