Gold prices hit an all-time high of $2,440 per ounce on expectations that the Federal Reserve will cut interest rates soon to address slowing US inflation. A weaker US dollar and comments from Fed officials hinting at rate cuts have boosted sentiment for gold as lower rates reduce the opportunity cost of holding non-yielding bullion. Market analysts say gold is benefiting from its appeal as an inflation hedge, though slowing inflation data has increased bets the Fed will ease monetary policy.
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00:00 It's Benzinga and here's what's on the block.
00:02 Gold prices hit an all-time high of $2,440 per ounce on expectations that the Federal Reserve
00:09 will cut interest rates soon to address slowing US inflation. A weaker US dollar and comments
00:14 from Fed officials hinting at rate cuts have boosted sentiment for gold as lower rates reduce
00:19 the opportunity cost of holding non-yielding bullion. Market analysts say gold is benefiting
00:24 from its appeal as an inflation hedge, though slowing inflation data has increased bets the
00:28 The Fed will ease monetary policy.
00:29 For all things money, visit Benzinga.com.
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