Posted 3/29/2024, 10:04:00 AM
Gold Prices Hit New Highs Above $2,230 on Rate Cut Hopes and Safe-Haven Demand
- Gold prices reached new highs above $2,230 per ounce on Friday amid low market activity and geopolitical tensions
- The price surge is attributed to expectations of global interest rate cuts and gold's status as a safe-haven asset
- Gold prices rose over 9% in March due to rate cut signals from the Fed, Bank of Japan policy shift, and Swiss National Bank rate cut
- Technical analysis shows potential for further XAU/USD growth towards $2,250 and $2,262 levels in the short-term
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