Gold is holding above $2500

Gold is holding at a record high above $2,500 per ounce. The current value of the precious metal is $2506.2 per ounce. 

This growth is associated with weak US economic indicators, which have increased expectations of interest rate cuts by the Federal Reserve System (FRS). Some experts even suggest that the Fed may cut the rate by 50 basis points at once at the upcoming meeting, rather than by 25, as previously expected. In general, the market expects a rate cut of 100 basis points by the end of the year. 

This year, gold has risen in price by more than 20% due to expectations of monetary easing by global central banks. 

The growth in demand for gold is also stimulated by geopolitical tensions in the Middle East and in connection with the Russian-Ukrainian conflict. Investors are looking for «safe havens» for their assets. 

Analysts predict a further increase in the price of gold to $2,700 per ounce in the coming quarters, as macroeconomic factors and central bank policies favor this scenario.