HIBAPRESS – Economy
Gold recorded a new record high on Monday, reaching $4383.76 per ounce, surpassing the historical level it achieved last October, amid investors' anticipation of the US Federal Reserve continuing its policy of lowering interest rates during the coming year.
This rise was driven by recent economic data that showed a decline in the US labor market and a slowdown in inflation rates during the past week, which reinforces expectations of the US central bank moving towards further monetary easing. During recent months, several factors have contributed to the increased demand for the yellow metal, including government paralysis in the United States, trade tensions launched by President Donald Trump, and global geopolitical risks, which are circumstances that have driven investors to turn to gold as a safe haven, at a time when confidence in the dollar is declining. In October, gold reached $4381.52 per ounce, achieving a 67 percent increase since the beginning of the year, before experiencing a rapid decline of about 5 percent as a result of profit-taking.
