Gold Prices Skyrocket to $2,431 as Market Eyes Potential Fed Rate Cuts

 Gold Prices Skyrocket to $2,431 as Market Eyes Potential Fed Rate Cuts

Gold Prices Climb to $2,431 per Ounce Amid Expectations of U.S. Rate Cuts

In #Economy breaking news 

Gold prices rose to $2,431 per ounce by the end of last week, fueled by predictions that the U.S. Federal Reserve may ease its monetary policy in September due to increasing concerns about an economic slowdown.

A report from Kuwaiti firm Dar Al Sabaik noted that falling U.S. Treasury yields have supported gold prices, with the yield on 10-year Treasury notes dipping by approximately five basis points to 3.9%.

Moreover, the U.S. dollar index fell by 0.1% against major currencies, pushing December gold futures up by 0.4% to $2,473 per ounce, reflecting a gain for the precious metal.

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