FXOchartist
Verified member
Gold prices soared and reached a new all-time high yesterday. The price has formed a new all-time high at $2379 before rebounding to $2376. On Wednesday the CPI data provided support for the strengthening of the dollar where the actual value of the CPI was 0.04% higher than the expected value of 0.03%. After the CPI was released, many USD pairs weakened against the US dollar, including gold which fell to $2319 from $2360. However, the strengthening of the USD did not seem to last long, because the price of gold then soared to a record new all-time high once again. The price of gold is back to recording a new all-time high throughout 2024 at $2379.