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Gold hits a record high

World News

2024-08-16 | 08:55

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Gold hits a record high

The price of gold hit a record high of $2,492.55 an ounce on Friday as investors snapped up the haven investment in the face of a likely US interest rate cut and heightened geopolitical risks.

Gold surpassed its previous record in July after lacklustre housing construction data reinforced expectations that the US Federal Reserve will cut interest rates in September.

AFP

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