GOLD surged to an all-time high, boosted by increasing optimism the Federal Reserve will start easing monetary policy this year along with rising geopolitical tensions in the Middle East.
Bullion jumped as much as 1.1% to hit $2 440.59 an ounce in early Asian hours, surpassing a previous intraday record reached in April.
Traders have been boosting bets in recent sessions that the Federal Reserve could reduce borrowing costs as early as September, a scenario that would bolster gold as it doesn’t pay interest.- moneyweb.co.za