Spot gold rose sharply in the short term, up more than 1% intraday, hitting a historic high at $2,490, now trading at $2,488/ounce. Since July, gold has been rising as market expectations for a earlier and larger rate cut by the Federal Reserve. More and more signs indicate that inflation is approaching the Fed's target. Interest rate cuts are usually good for gold. The situation in the Middle East and Ukraine has also pushed up gold prices. Since the beginning of this year, the price of gold has risen by a cumulative 20%, up more than $420/ounce.
现货黄金再创历史新高，最高触及2490美元
The spot gold has hit a new historical high, reaching as high as $2490.
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