Gold was trading at record high prices last week as rising geopolitical tensions, a weakening dollar and expectations of an interest rate cut by the U.S. Federal Reserve buoyed demand for the precious metal. Prices went up by as much as 3% at the start of the week to hit $2,135 per ounce, surpassing August 2020 prices, which hit a record $2,072 before falling to around $2,023 on Monday at noon.
A combination of varied factors has caused gold prices to skyrocket in recent weeks after rising interest rates and a…
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