Gold shines brighter, hits record high: What's driving the surge
Gold climbed 0.3% to $3,748 an ounce in the latest session, capping a monthly gain of about 7.7%.
A small dip in the US dollar made gold more affordable worldwide, and now all eyes are on upcoming US inflation and jobless data that could sway Federal Reserve interest rates.
Why gold is shining so bright
When the Fed hints at rate cuts—like two expected later this year—gold usually shines brighter.
Comments from Fed officials and ongoing global tensions (think Russia-Ukraine) are making gold a go-to safe haven again.
With forecasts pointing to strong prices in the coming years, it's worth watching if you're into investing or just curious about how global events shape markets.
What's behind the surge?
It's a mix of things: softer inflation, a cooling job market, and that ever-present uncertainty around the world.
A weaker dollar means more people abroad want gold, while worries about what's next for the economy keep demand high.
Gold is holding near multi-month highs—and might stay strong if these trends continue.