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March 21 - Gold prices on Thursday hit record peaks for the fifth time this month after the U.S. Federal Reserve anticipated three rate cuts in 2024 despite high inflation.
"The mood in the gold futures market is very bullish. So your hedge funds or any other short-term traders or trend followers are positioned for higher prices, and I think this is the segment that is in the driving seat while the physical gold market is rather soft." "The geopolitical instability and expectations of dollar devaluing in the run up to the end of the year consistently is also being priced into the into the value of gold at the moment," said Ricardo Evangelista, senior analyst at ActivTrades.
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