After comments from the chairman of the Federal Reserve - the US central bank - on a possible pause in US interest rate hikes, gold prices headed for an all-time high on Thursday.
On the London futures market, the price of an ounce of gold (31.1 grammes) reached $2,062.99, before retreating slightly. This is its highest level for a year. The all-time high stands at $2,075 and dates back to the summer of 2020.
A pause in rate hikes is likely to boost gold’s appeal to investors, who are more tempted to move away from fixed-rate assets.
