Gold bulls set sights on previously dismissed record $3,000/oz milestone

Quick Summary:

Gold market bulls are locking in bullion prices surging to fresh records, with a milestone of $3,000 per ounce coming into focus, fired up by monetary easing by major central banks and a tight U.S.presidential election race.

Spot gold reached a historic high of $2,572.

Interest rate cuts from major central banks are well underway, with the European Central Bank on Thursday delivering its second quarter-point cut of the year.

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Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Interest Market Metals Election Gold Banks Demand Rate Central Cent Ounce

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-13 @ 19:35:25 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22494523

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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