Gold hit new highs on Tuesday as investors continue to bet that major central banks will start cutting interest rates this year. On Tuesday morning gold futures (GC=F) reached a high of $2,150.50 after April contracts settled at a record $2,126.30 per ounce in the prior session. Tuesday’s intraday spot gold touched a record of $2,141.79 per ounce before paring back gains. The precious metal is considered a safe haven during times of geopolitical tensions and when interest rates decrease. While… Source link
Read More »Stocks Drop While Dollar Rallies to One-Month High: Markets Wrap
(Bloomberg) — Global stocks retreated and the dollar rose to a one-month high as central bank officials pushed back against bets on aggressive interest rate cuts. Most Read from Bloomberg US futures slid, while the Stoxx Europe 600 index headed for a five-week low. The MSCI Asia Pacific Index lost 1.5%, the most in three months. Two-year Treasury yields rose six basis points to 4.2%. An index of the dollar climbed 0.6%. Banks led equity declines in Europe as JPMorgan Chase & Co. analysts said… Source link
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