Spot gold prices rose to a new record high of $2,110.8 per ounce Monday before giving up some gains. Prices of the yellow metal have risen for two consecutive months with the Israel-Palestinian conflict boosting demand for the safe-haven asset. Gold prices are expected to remain above $2,000 levels next year. Traffic_analyzer | Istock | Getty Images
Gold prices notched a new record on Monday for a second day in a row — with spot prices touching $2,100 as the global rush for bullion appears set to continue.
Gold prices are on course to hit fresh highs next year and could remain above $2,000 levels, analysts said, citing geopolitical uncertainty, a likely weaker U.S. dollar and possible interest rate cuts.
Prices of the yellow metal have risen for two consecutive months with the Israel-Palestinian conflict boosting demand for the safe-haven asset, while expectations of interest rate cuts have provided further support. Gold tends to perform well during periods of economic and geopolitical uncertainty due to its status as a reliable store of value.
“The anticipated retreat in