Gold prices await record high

Shafaq News / Economists at Commerzbank anticipated, on Saturday, an increase in gold prices in the global market amid uncertainty about the continued strength of the yellow metal in the near future.

According to German experts, although recent US economic data has been weak, the Federal Reserve's interest rate cut has not been very close, according to the expectations of most market participants.

The experts ruled out a US interest rate cut until at least June, and this will certainly affect the price of gold during trading.

However, with the approaching meeting of the Federal Reserve next week, if it is possible to interpret the new forecasts of the Federal Reserve and the words of the bank's president, Jerome Powell, as increasing the chances of a rapid interest rate cut, gold prices may reach new record levels.

Experts warn of many factors affecting gold prices recently, including political unrest and wars in Ukraine, Gaza, or the Red Sea, which boost gold's rise as a safe haven.