Why is this important
Gold is increasing in the global market, reflecting expectations of a US Federal Reserve rate cut. The rise in prices supports investor and central bank demand, as well as impacting savings and investments within the country.
What happened
- The world price reached $3589 per ounce ($115.4 per gram);
- At its peak, they offered $3600;
- In Uzbekistan, gold prices increased by 1.9% in a single day;
- The previous record was on April 22nd (7.467 million for 5g, 1.493 million for a gram).
Context
The rise in gold prices is linked to expectations of Fed rates decreasing on September 17th. According to The Economic Times, unemployment in the US has reached 4.3% for the first time since 2021.
JPMorgan analysts predict growth to $3,675 per ounce at the end of 2025 and $4,200 in 2026.
