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Investors are buying up gold stocks before the first US rate cut

Cecile Lefort
Cecile LefortMarkets reporter
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Gold prices have just set a fresh record and are set to climb even further to $US2600 this year boosted by looming US interest rate cuts, a weakening dollar and central bank buying.

The strength of the rally in the precious metal has defied analysts expectations, with the spot price up 21 per cent so far this year to hit $US2509.65 an ounce on Friday.

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Cecile Lefort is a markets reporter based in the Sydney newsroom. Email Cecile at cecile.lefort@afr.com
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    Original URL: https://www.afr.com/markets/commodities/investors-are-buying-up-gold-stocks-before-the-first-us-rate-cut-20240819-p5k3f3