8 March 2024
Gold’s price surged to a new record high, reaching up to $2,185.50 an ounce, driven by optimism following a pivotal US jobs report. This report has increased expectations that the Federal Reserve might soon lower interest rates, propelling gold’s price upward for the eighth consecutive day. This rally, sparked by anticipated rate cuts, central bank acquisitions, and a resurgence in investor interest, has surprised many experienced market analysts due to its rapid and seemingly unprovoked nature, aside from the traditional factors that typically bolster gold’s appeal.