Gold hit a new record price of $2,492.55 per ounce today, Friday, thanks to the decline in the dollar and the increased demand for the metal as a safe haven, amid expectations that the United States will cut interest rates due to escalating geopolitical risks.
The gold price surpassed the previous record set in July following weak construction sector data and growing expectations that the Federal Reserve will cut interest rates next September.
The main indices on the “Wall Street” stock exchange fell after the rise achieved on Thursday, following retail sales data that were stronger than expected, dispelling fears of the U.S. economy heading towards a recession.
The “Dow Jones” Industrial Average fell by 0.2%, the “S&P 500” index declined by 0.3%, and the “Nasdaq” index, which is dominated by technology stocks, decreased by 0.3%.
