Ahead of the Federal Reserve’s widely anticipated interest rate decrease next week, gold reached yet another record high.
Friday saw a 1% increase in gold prices to $2,583.45 an ounce, putting it on track for a roughly 3% weekly gain. Gold has increased by 25% this year as a result of the central bank’s move toward demonetisation. An increase in individual investor interest has contributed to this improvement.
The total open interest in Comex gold futures has significantly climbed during the last few trading sessions.
