This week saw the price of gold extend its run, remaining above $2,500, driven by increasing investor confidence that the Fed will likely reduce rates of interest next month, and a weaker dollar. Specifically, the price of spot gold hit $2,510.32 an ounce, representing a 0.3% increase. This comes after recording a new high of $2,531.60 per ounce. U.S. gold futures also rose 0.4% to hit $2550.60 per ounce.
On the other hand, the dollar index dipped to a seven-month low, which made gold more attractive for holders of other…
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