Gold Price News: New all-time high after ECB interest rate cut and US data

The gold price reached a new all-time high of USD 2,567.00 per troy ounce on the morning of September 13, 2024. This price movement follows the European Central Bank's interest rate cut the previous day, which put further pressure on the euro. The move by the European Central Bank led to increased demand for gold as a hedge against currency devaluations.

In addition, the publication of the US Producer Price Index (PPI) data further boosted market momentum. This data was slightly above expectations and signaled continued inflationary pressure in the US economy. This increased investors' interest in gold as protection against persistent inflation, while at the same time speculating on possible interest rate cuts by the US Federal Reserve. In addition, yields on ten-year US government bonds fell significantly. As gold is a reliable alternative, the gold price also benefited from this.

Analysts see the current rise in the price of gold as part of a longer-term trend driven by geopolitical uncertainties and confidence in gold as a stable investment. With increasing expectations of interest rate cuts by the US Federal Reserve in the near future, experts anticipate further price increases, especially as the US dollar continues to lose strength and gold becomes more attractive in other currencies.

While the stock markets have reacted unevenly in recent days and bond yields have remained low, gold has benefited from the macroeconomic uncertainties. Gold's attractiveness as a hedge against inflation and its low correlation to traditional markets is supporting the precious metal's performance in the current environment.

Market experts expect the price of gold to continue to rise. A further rise in the precious metal is expected if inflation or inflation expectations continue to rise and central banks ease their interest rate policies. Investors are advised to maintain their gold investments. The uncertainty on the financial markets makes the precious metal a stable and attractive investment in the coming weeks.