Gold blew past $4,900 an ounce for the first time ever on Thursday, driven by geopolitical tensions, a weaker dollar, and growing Fed rate cut expectations. Gold futures hit $4,980 per ounce as of press time, the highest level on record.
The rally wasn’t limited to gold. Spot silver spiked to an all-time high of $96.58 per ounce, while platinum surged 4.6% to $2,601.03. Palladium gained 3.3%, pushing up to $1,900.59.
Meanwhile, U.S. stock futures were muted Thursday night, even after a two-day rebound. S&P 500 futures held flat, Dow futures dipped 21 points, and Nasdaq 100 futures slid 0.2%.
The Dow is barely positive on the week, up less than 0.1%. But both the S&P 500 and Nasdaq are still down, heading for a second straight weekly loss, off 0.4% and 0.3% respectively.
Source: https://www.cryptopolitan.com/gold-hits-new-all-time-high-of-4980/
