Gold Prices Surge to Record Highs, Reaching $2,542.10 and Surpassing $2,570

Sep 12, 2024, 01:14 PM

Gold prices have surged to new all-time highs, driven by market uncertainty and anticipation of upcoming FOMC rate cuts. Spot gold reached a record high of $2,542.10 per ounce, with some reports indicating intraday highs of up to $2,580.40 and futures advancing to over $2,577 per ounce. This marks the 33rd record high for gold this year, with analysts suggesting that the price could climb further towards $3,000 per ounce. The market remains strong, with $2,500 becoming a solid support level and the ceiling holding around $2,525 per ounce. Gold measured in Euro also made an all-time high, with some reports indicating prices surpassing $2,570 per ounce.