After the opening of the market, spot gold rose by more than 60 US dollars in the short term to 2,133 US dollars, a record high.
Boosted by weak US economic data and dovish comments from Federal Reserve officials, spot gold opened on Monday with a short-term increase of over $60, reaching a high of $2,133 per ounce and rising more than 3% during the day. Forexlive analyst Eamonn Sheridan stated that this is because the market is being stimulated to buy gold in large quantities due to the prospect of future Fed rate cuts, with investors currently betting on a rate cut by the Fed early next year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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