Rush for gold spurs price to peak; related assets climb
8 months, 2 weeks ago

Rush for gold spurs price to peak; related assets climb

China Daily  

Consumers browse gold accessories at a store in Nanjing, Jiangsu province, in March. Wang Lixin, CEO of the World Gold Council, said market expectations of interest rate cuts by the US Federal Reserve have been among the key factors supporting the strong increase in gold prices. Wang said: "Generally, when the Fed enters a rate-cutting cycle, it inevitably leads to a weakening of US Treasury yields, prompting investors to seek other wealth storage options like gold, thus driving up its prices. Huang Lichen, an analyst at WolFinance Technology, said investors hold high expectations for Fed rate cuts, suggesting the possibility of higher gold prices. However, several recent economic indicators from the United States have shown improved performance, supporting a rise in the US dollar and thereby putting pressure on gold prices.

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