Gold Prices Surge Above $2,440 on Rate Cut Speculations from higher education policy 2020 Watch Video

⏲ Duration: 0:33
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✓ Published: 21-May-2024

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Gold prices hit an all-time high of $2,440 per ounce on expectations that the Federal Reserve will cut interest rates soon to address slowing US inflation. A weaker US dollar and comments from Fed officials hinting at rate cuts have boosted sentiment for gold as lower rates reduce the opportunity cost of holding non-yielding bullion. Market analysts say gold is benefiting from its appeal as an inflation hedge, though slowing inflation data has increased bets the Fed will ease monetary policy.