Gold Prices Soar to Record Highs Above $2,100 as Investors Bet on Rate Cuts and Geopolitical Tensions
• Gold prices hit an all-time high on Monday, rising above $2,100 per ounce before falling back slightly • Investors are betting on interest rate cuts in 2023, which is weakening the dollar and making gold more attractive • Falling bond yields have also made non-yielding assets like gold more appealing • Geopolitical tensions around the world are driving safe-haven demand for gold • Central banks in emerging markets have been stockpiling gold reserves at a record pace in recent years