Gold Rises Near Record High

Gold hovered near its record high on Monday, as investors awaited a series of speeches by Federal Reserve officials and this week’s inflation data, after the U.S. central bank cut interest rates last week and signaled the possibility of further reductions.اضافة اعلان

Spot gold rose 0.1% to $3,688.76 per ounce by 02:17 GMT, after hitting a record high of $3,707.40 last Wednesday.

U.S. gold futures for December delivery climbed 0.5% to $3,723.70.

Gold, which often benefits from lower interest rates, has gained more than 40% since the beginning of the year, driven by geopolitical and economic uncertainty, central bank purchases, and monetary easing.

Reuters