Gold Hits $2,500, Steals All the Attention from Bitcoin
🥇 Gold just hit a new record of $2,531/ounce, thanks to expectations of a Fed rate cut. Meanwhile, investors ignore Bitcoin, seek safety in gold amid recession fears.
✅ Factors driving gold prices
🟢 Rate cut predictions: Weak dollar, gold more attractive.
🟢 Monetary policy: Fed may cut interest rates by 25 basis points in September.
🟢 Geopolitical concerns: Middle East situation boosts demand for gold.
😎 Gold outperforms Bitcoin
🟢 Bitcoin is down 16% from its peak of $73,740, while gold is still seen as a safe haven.
🔎 Future Forecast
🍻 If this trend continues, gold prices could reach $2,600/ounce by the end of 2024.
🔗 Source: https://t.me/pinews2024/2025
