The price of gold hit a historic record

According to the report of an economic reporter, quoted by Rashatudi, in last night’s transactions of the global precious metals market, the price of gold exceeded 2,600 The dollar per ounce crossed and reached the highest level in its trading history.

Concerns about the consequences of interest rate cuts in America have made investors turn to buying gold as a safe asset.

While gold grew by 13% in the whole of 2023, it has recorded a 23% price increase since the beginning of 2024.

The reason for the growth of gold prices in the past few days was the release of news related to the decision of the Central Bank of America to reduce the interest rate in this country. This bank wants to reduce the bank interest rate in America, which is currently at the highest level in the past 23 years, by 0.5.

Experts have cited tensions in the Middle East and Eastern Europe as one of the other reasons for the rise in gold prices.

Generally and traditionally, investors turn to buying gold as a safe asset in times of volatility and increased risk in the market, in order to preserve the value of their assets on the one hand, and on the other hand be safe from volatility and risk.