Gold Gains On Rate Cuts, Reaches Two Year High – 19 June, 2019

With the Federal Reserve hinting that a U.S. interest rate cut could be coming, gold rose to its highest in over two years, with investors running towards the precious metal during increased uncertainty over the future of the economy. Gold rose for four straight weeks, with investors seeing trade conflict between the U.S. and multiple other countries affecting the economy, factors which generally see a rise in precious metals. Bullion last closing price was the highest since August 2016, closing its last session 1% higher to $1,360.38 per ounce.