Gold prices hit another record high after fresh U.S. data spurs Fed cut expectations

News Snapshot:

Gold prices extended their rally and scaled to another record high on Monday, propelled by U.S. interest rate cut expectations and the metal’s appeal as a safe haven asset. Spot gold added 0.6% to trade at $2,245.79 per ounce. U.S. gold futures rose more than 1% to trade at $2,266.39 per ounce. “I think it’s a really exciting moment in gold,” said Joseph Cavatoni, market strategist at the World Gold Council told CNBC on Monday. “What’s really driving it is, I think, many market speculators really getting that confidence and comfort [in] the Fed cuts,” he said. Market watchers are...