Gold prices briefly surged to a record high, exceeding $3,508 an ounce, driven by anticipation of US interest-rate cuts and anxieties surrounding the Federal Reserve’s future. This rally, fueled by expectations of a subdued labor market and subsequent rate reductions, has significantly boosted gold’s appeal as a haven asset.
Oil Price Today (July 20): Crude oil jumps 3%, crosses $90 as US and Iran exchange attacks. $100 in sight?
Brent crude futures rose $2.69, or 3.05%, to $90.79 a barrel, their highest level since June 11. The benchmark extended last week’s rally, when it