The global gold price has once again made history, breaking a new record high of US$3,546 per ounce in trading on Wednesday (September 3) morning. This surge was triggered by growing expectations of a Federal Reserve (The Fed) interest rate cut, a weakening US dollar, and a surge in investor funds flowing into safe-haven assets.
The market believes the US central bank is highly likely to cut interest rates at its September meeting. A looser monetary policy has weakened the US dollar and increased gold's appeal as a hedge. President Donald Trump's pressure on the Federal Reserve and escalating global geopolitical tensions have prompted investors to shift their portfolios to safe-haven instruments like gold. Central banks in developing countries, including India, China, and Turkey, have significantly increased their gold reserves as a means of asset diversification.
Source : Newsmaker.id
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