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Gold Nears $4000 Amid Rate Cut Speculation, Highlighting Safe-Haven Demand
Gold Nears $4000 Amid Rate Cut Speculation, Highlighting Safe-Haven Demand
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Gold futures surged 1.1% to $3,745.90 per ounce, with spot prices hitting a record $3,723.86 as investors bet on Federal Reserve rate cuts. "Gold is reclaiming momentum," said KCM Trade's Tim Waterer, citing central bank purchases and geopolitical tensions as tailwinds. Goldman Sachs projects a 2025 rally beyond $4,500/oz should these drivers persist.
The metal's appeal strengthens amid dollar weakness and low-yield environments. AJ Bell's Russ Mould notes gold's dual role as both a hedge against policy shifts and global instability. No direct cryptocurrency correlation observed, though macro trends may indirectly influence digital asset valuations.
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