Gold Prices Reach All-Time High Amid Economic Uncertainty

Global markets experienced a surge, with gold prices reaching an unprecedented high of $2,682.10 per Troy ounce, fueled by economic uncertainties, geopolitical tensions, and expectations of interest rate cuts by the Federal Reserve. China's commitment to fiscal stimulus aimed at stabilizing its economy has also contributed to this market optimism. Major US-listed Chinese stocks saw significant gains, with Micron leading the surge after reporting better-than-expected earnings. Analysts forecast continued bullish trends for gold, highlighting its appeal as a safe haven amid global instability, particularly in the Middle East. Additionally, macro fund positioning in gold has reached record levels, indicating strong investor interest. Despite this, mixed US economic data presents a cautious outlook as the Federal Reserve navigates its monetary policy amidst labor market concerns.