Gold prices have continuously risen over the past few days to hit record-high levels as traders increasingly expect the U.S. Federal Reserve to begin lowering interest rates.
On March 6, spot gold was trading at about $2,142 per ounce as of 9:35 a.m. EST, up by 7.96 percent from a low hit on Feb. 14. This is higher than the historical high of $2,141.59 hit on March 5. Prices had gone up every single day for five days. The surge in prices is happening as many investors believe that the Fed may soon start cutting interest rates. Gold and interest rates are thought to have a negative correlation—that is, declining interest rates make assets such as gold attractive to investors.
