Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gold soared above $2500 amid the persistence of Fed rates and geopolitical risks


August, 01 2024
watermark Economic news

On Thursday, the price of gold broke the $2,500 per troy ounce mark for the first time in history.


During trading, the price of the main gold futures reached a historic high of $2,506.55. The previous record was set on July 17, when the August futures price reached $2,488.4.


The rise in gold prices is due to several factors. Firstly, the US Federal Reserve System has once again kept the base interest rate at 5.25-5.5% per annum. This decision, published on Wednesday evening, did not lead to the expected weakening of the dollar, which makes gold more attractive to investors. 


Secondly, geopolitical risks in global markets continue to grow, which also contributes to the growth of demand for «safe» gold.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.