Gold prices were up again, having hit a record high in the previous session, as investors continued to favor precious metals amid rate-cut expectations and geopolitical uncertainty.
Futures in New York rose 0.2% to $4,516.16 an ounce and are up 71% over the year to date. Prices have risen 3.3% over the past three sessions.
Gold prices have hit record highs more than 50 times this year, Swissquote senior analyst Ipek Ozkardeskaya wrote, adding that the forces pushing prices higher remain in place. “In theory, the medium- to long-term outlook remains positive,” she said.
