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What will be the magnitude of the Federal Reserve rate cut by the end of 2024?
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Resolution / Starting Odds
No Rate Cut • 25%
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Based on official announcements from the Federal Reserve
Story
Gold Prices Hit Record Highs, Surpassing $2,570 Amid Market Uncertainty
Sep 12, 2024, 02:28 PM
Gold prices have surged to new record highs, driven by growing market uncertainty and expectations of a Federal Reserve rate cut. On September 12, 2024, spot gold reached an all-time high of $2,542.10 per ounce, with some reports indicating prices surpassing $2,570 per ounce. The rally in gold prices reflects increased investor demand for safe-haven assets amid economic instability. The highest intraday price recorded was $2,580.40. Other significant price points include $2,533, $2,551, and $2,562.65 per ounce. Analysts suggest that the gold bull market is likely to continue, with future price targets potentially reaching $2,700 to $3,000 per ounce.
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