Gold Prices Hit Record High Amid Rate Cut Expectations

Investors anticipate a Federal Reserve interest rate cut, driving gold to unprecedented levels.

Gold prices reached a record high of $2,194.99 an ounce on Friday, driven by expectations of a Federal Reserve interest rate cut.
The Federal Reserve is anticipated to cut its key interest rate soon, influenced by a cooling labor market and slowing inflation.
Investors are closely watching the upcoming U.S. Consumer Price Inflation (CPI) data for February, which could impact the future direction of gold prices.
Central bank buying, particularly by the People’s Bank of China, and geopolitical tensions continue to support gold's price.
The price of gold has been on a steady rise, with an 8-day winning streak marking its longest since July 2020.