Gold prices hit record high, shine bright in global markets
Spot gold slipped 0.3% to $3,546.73 per ounce on Thursday, following a peak of $3,578.50 on Wednesday (September 3).
Thanks to a weaker US dollar and rising global demand, gold has seen significant movement.
In India, 24-karat gold stood at ₹10,686 per gram.
Investors are betting on gold as Fed rate cut looms
If you're watching your investments or just curious about what's moving markets, gold's ups and downs are worth noting.
The buzz right now is around an expected Federal Reserve rate cut on September 17—which makes gold more appealing as other investments offer lower returns.
Add in shaky US job numbers and ongoing global tensions, and it's no wonder investors (including central banks) are stocking up on gold.
Gold's appeal grows with US dollar's dip
Markets see a 97% chance of that Fed rate cut because of fewer job openings and key payroll data ahead.
Plus, with the US dollar down about 2%, gold gets even more attractive.
Uncertainty over trade policies and world events keeps demand high—so for now, gold isn't losing its shine.