"Gold Surges to New Heights on Fed Cut Expectations and Safe-Haven Demand"

Gold prices reached a new all-time high, driven by expectations of U.S. interest rate cuts and its status as a safe haven asset. Market speculators are gaining confidence in potential Federal Reserve cuts, with expectations for a rate cut in May or June. The recent rise in the Fed's inflation gauge may keep the central bank from considering rate cuts for now. Gold prices tend to move inversely to interest rates, making them more attractive in a low-interest-rate environment. Overseas demand, particularly from China, has also contributed to the surge in gold prices, fueled by central bank purchases and weak economic performance in the country.