Gold prices rose to another an all time high of $4,530 per ounce on Friday, on strong safe-haven demand amid mounting geopolitical tensions and expectations of US interest rate cuts.
Investor focus remains on the ongoing US blockade of crude shipments from Venezuela, continued hostilities between Russia and Ukraine, and a recent military strike by Washington against ISIS in Nigeria.
Meanwhile, markets continue to price in two quarter-point rate cuts by the Federal Reserve next year as inflation cools and labor market conditions soften, even as Fed officials remain divided on the path ahead.
Bullion has surged more than 70% so far this year, marking its largest annual gain since 1979, with the rally also underpinned by strong central bank buying and sustained ETF inflows.
Source: Trading Economi
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