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Gold Hits Historic $4,000 Mark Amid Record ETF Inflows
Gold Prices Hit Record Highs Above $4,000 Gold prices have reached a new record — going above $4,000 per ounce on Tuesday. Many investors are buying gold because the US dollar is getting weaker and there are growing expectations that the Federal Reserve will cut interest rates soon. So far this year, gold prices have gone up by more than 50% , the biggest yearly gain since 1979 . A new report from the World Gold Council shows that investors are putting huge amounts of money into gold exchange-traded funds (ETFs) . During the three months ending in September, gold ETFs saw their largest-ever increase , rising 23% to $26 billion . Most of this money came from investors in North America , followed by Europe and Asia . The report says that political and economic uncertainty around the world continues, which is making investors turn to gold as a safer option. Trading in gold also became much more active. The average daily trading volume jumped 34% in one month as gold pric...
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