Surge in Gold Price as Federal Rates Cut Impact US Yields

Gold price surges above $2,700

Following the surprising decision of the Federal Reserve to cut their rates, the price of gold witnessed a substantial surge, exceeding the $2,700 mark. Gold, renowned for being a safe-haven asset in times of financial turbulence or uncertainty, proved its worth anew. Reduced rates from the Fed often indicate an economy grappling with issues, hence leading to a lower yield from US Government bonds. Investors seeking safer and potentially higher returns turned to gold, hence driving up the price. With the changes in the global economy and uncertainties surrounding US yields, it will be interesting to see what turns the gold market takes in the coming days. Read More