Gold sky-rocketed to a record $3,578.50/oz on Wednesday before a tiny 0.4% pullback on Thursday – it's still up 30% this year! 😲
The buzz? Simple:
- Fed rate cut bets: A whopping 98% chance of a rate cut soon makes gold shine brighter than low-interest cash.
- Dollar slump: The USD has tumbled almost 11% since January, so gold gets a price boost for global buyers 🌏.
- Trust issues: Public spats over the Fed's independence under President Trump have investors flocking to gold's safe-haven status.
With central banks planning to bulk up on gold and dial back dollar holdings, experts at Standard Chartered see this rally going even higher. Ready to ride the golden wave? 🌊✨
Reference(s):
cgtn.com
