Spot gold prices hit a record $3,760 per ounce, with investors awaiting Federal Reserve Chair Jerome Powell’s economic outlook speech for further policy cues.
Spot gold prices have reached a new high of $3,760 per ounce, driven by expectations of further rate cuts by the Federal Reserve and a weakening dollar. Investors are closely watching Fed Chair Jerome Powell’s upcoming speech for insights on the economic outlook. Analysts forecast that slower economic growth, rising inflation, and geopolitical factors will sustain gold's bullish momentum in the near term.