Gold breaks $2,600 barrier as Fed cut bets prolong historic run

Gold prices surged above $2,600 per ounce for the first time, driven by expectations of further U.S. interest rate cuts and ongoing Middle East tensions. The Federal Reserve’s aggressive easing cycle and geopolitical uncertainties have boosted gold’s appeal, leading to a 27% rise in 2024. However, analysts warn of a potential correction due to extreme positioning. The rally has dampened retail demand in China and India. Other precious metals also saw movement, with silver gaining, while platinum and palladium declined.READ FULL