Gold prices have reached a record high, bringing the value of an average bar up to $1 million for the first time.
It comes amid widespread expectations of impending interest rate cuts.
The spot gold price held steady on Wednesday, at just over $2500 per ounce.
#gold #economy #finance #trading #trades #financetips #goldtrading #economics
It comes amid widespread expectations of impending interest rate cuts.
The spot gold price held steady on Wednesday, at just over $2500 per ounce.
#gold #economy #finance #trading #trades #financetips #goldtrading #economics
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00:00Gold prices have reached a record high, bringing the value of an average bar up to $1 million for the first time.
00:06It comes amid widespread expectations of impending interest rate cuts.
00:11The spot gold price held steady on Wednesday at just over $2,500 per ounce.
00:17Gold is really the key asset for governments to hold in really, really difficult times.
00:22So as governments get more nervous, so they lay in more gold.
00:26And I think you're seeing that demand around the world
00:28because there is just a general level of tension that is increasing.
00:32And, you know, you can see with the American election coming up
00:35why people are becoming increasingly nervous.
00:37On top of that, of course, we've had inflation for a very long time at high rates around the world.
00:42And that hasn't actually come through very much into gold.
00:45And now it's coming through to gold.
00:46So you've got this pincer movement of inflation working its way into the gold price
00:50and also increasing global tension.