Gold prices rise to record highs on hopes of US interest rate cuts

The gold price reached its highest level ever on Tuesday. The precious metal’s value was boosted ahead of expected cuts in US interest rates. The price of gold actually rose to 2,141.79 dollars (1,970.08 euros) per troy ounce (31.1 grams). This surpassed a previous peak from early December of 2,135.39 dollars (1,964.20 euros). Later in the day the price dropped again to around 2,131 dollars (1,960.16 euros).