Gold prices surged to a record high on Monday as investors grew increasingly confident that the US Federal Reserve will continue cutting interest rates into next year.
The precious metal climbed to an intraday peak of $4,383.76, buoyed by a series of data releases last week that pointed to further softening in the US labour market and easing inflation, developments that give the central bank greater scope to loosen monetary policy.
Monday’s rally pushed gold past its previous record of $4,381.52, which was set in October.
AFP
