HONG KONG: Gold prices shot to a record high on Monday as investors grow increasingly optimistic that the US Federal Reserve would continue to cut interest rates through next year.&nbsp;The precious metal reached a peak of $4,383.76 in early trade as a string of data last week, pointing to further weakness in the US labour market and easing inflation, gave the central bank room to ease monetary policy further.&nbsp;Monday&#39;s gain pushed the commodity past its previous high of $4,381.52 touched in October.

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Monday's gain pushes the commodity past its previous high of $4,381.52 in October.

Gold price hits record high of $4,383.76 on US rate cut bets

Asfandyar Yahya

Gold has shattered every record &mdash; crossing $4,000 an ounce and shaking the foundations of global finance. But this story isn&rsquo;t just about price&mdash;it&rsquo;s about power.&nbsp; As central banks from China to Pakistan quietly replace U.S. dollars with gold, the world&rsquo;s financial map is being redrawn.&nbsp;This explainer unpacks why nations are hoarding gold like it&rsquo;s the last lifeboat on a sinking ship, how America&rsquo;s financial weaponization sparked a global rethink, and what it all means for ordinary Pakistanis now paying record prices at home.&nbsp; From Wall Street to Saddar Bazaar, this is the story of trust, fear, and the world&rsquo;s search for a new currency of confidence.

Articles tagged with "gold"

Gold price hits record high of $4,383.76 on US rate cut bets

Tell Me Why: Nations are ditching dollar for gold

Tell Me Why: Nations are ditching dollar for gold