Gold Records Historic Surge, Exceeding $3000

Gold prices have reached a new historic high, surpassing $3000 per ounce for the first time, driven by growing concerns over a global economic slowdown.اضافة اعلان

The Financial Times reported that the price of gold reached $3004 per ounce during trading on Friday, marking a 14% gain since the beginning of the year.

This significant increase comes amid a decline in U.S. stock markets, prompting investors to seek refuge in the precious metal as a safe haven. Additionally, expectations of potential interest rate cuts by the U.S. Federal Reserve have boosted gold's appeal, as it is a non-yielding asset that typically benefits from lower borrowing costs.

(Petra)