Gold reached as high as $2,220 an ounce, according to Bloomberg, surpassing previous records set in March.
Since mid-February, the price of the precious metal has jumped nearly 12%.
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22/03/2024
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11:39
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Asian shares and the New York Stock Exchange rose sharply and the dollar fell after the US central bank (Fed) confirmed its forecast for three rate cuts in 2024 despite persistent inflation.
This rise in the price of gold has been encouraged by a weakened dollar, which makes the precious metal more attractive as a safe haven amid heightened geopolitical risks, particularly after the start of the war between Israel and Hamas.
Rate cuts also favor the yellow metal, which does not generate income, as it makes other holdings less attractive.
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