The prospect of an interest rate cut by the U.S. Federal Reserve has prompted investors to move money out of bonds and into gold, pushing the price of the precious metal to a record high.
As of 10:28 a.m. on Friday (September 13), the spot price of gold stood at $2,564.31; Gold futures were trading at $2,592.50.
Driven by the Trump administration's push to relax financial regulations and the recovery of investment banking business, the market value of the six major banks in the United States has cumulatively increased by approximately 600 billion US dollars by 2025.
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