Gold prices hit record high: ASX Gold Stocks & ETFs
On Thursday, gold prices set a new record. With spot gold prices jumping more than 0.4% to a record high of $2,161.19 an ounce, while gold futures expiring in April hit a peak of $2,168.10 an ounce.
But why the rise in gold prices?
Broadly, gold is benefitting from optimism about U.S. monetary policy and investors’ hopes for lower interest rates.
On Wednesday, Federal Reserve Chair Jerome Powell said that interest rates could be cut at some point in the year. Typically, gold prices rise as interest rates fall, which is a development that could happen sooner than some analysts projected.
If you are interested in joining the gold train, here are some ASX Gold Stocks & ETFs you could start trading:
ASX Gold Stocks
ASX Gold ETFs
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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