Gold prices hit a record high driven by expectations of interest rate cuts

ChainCatcher news, according to Jinshi reports, gold prices have once again reached a historic high, with spot gold prices rising by 0.9% to $3,508.73 per ounce, surpassing the peak in April. So far this year, gold has risen by over 30%, making it one of the best-performing commodities. The prospect of interest rate cuts by the Federal Reserve and concerns about its future have provided new support for the rise of precious metals. Investors seek safe havens during periods of political and economic turmoil, which has thus supported gold.