Gold hits new record of $2,265.73 per ounce. Investors still convinced that the U.S.
Federal Reserve will cut interest rates this year. The risks of an extension of the conflict between Israel and Hamas are also pushing prices up. As gold does not earn any interest, it becomes more attractive when central banks lower the cost of borrowing. The Fed raised its rates 11 times between March 2022 and July 2023. In June 2022, American inflation had reached a peak at 9.1%.