Gold Prices Soar to All-Time High of USD3,719.95
(MENAFN) Gold prices surged by 0.7% on Monday, reaching an all-time high of $3,719.95 as of 0630GMT, fueled by mounting market speculation of further rate cuts from the Federal Reserve.
Over the past year, gold has fluctuated between $2,536.91 and $3,719.95, marking a substantial 40.7% gain during this period.
The latest price jump follows the Federal Reserve’s decision to lower its policy rate by 25 basis points last week, a move strongly advocated by U.S. President Donald Trump.
Looking ahead to the Fed’s meetings in October and December, markets anticipate additional rate cuts.
The Fed’s decision-making is also being influenced by weak inflation data, rising unemployment, and ongoing pressure from Trump to ease monetary policy further.
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