Gold fetches record price as central banks stockpile ahead of expected interest-rate cut

Quick Summary:

Citigroup says the metal could be headed for US$3,000 per ounce next year after hitting US$2,531.75 overnight.

Purchases by global central banks have helped fuel gold’s ascent.

Strong buying by gold exchange-traded funds in China and elsewhere is a factor in the rise.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChinaIndiaTaiwanTurkeyUkraine

Topics: Metal Federal China Global Risk Central Gold According Gold’s “the Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-21 @ 16:30:17 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 554 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22192147

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