Gold reached a historic milestone on Friday, surpassing $2,500 per ounce for the first time. This record-breaking price was driven by several factors, including expectations of imminent interest rate cuts by the Federal Reserve, a weakening US dollar, and ongoing geopolitical tensions. The precious metal’s value has increased by approximately 20% in 2024, buoyed by central bank purchases and its appeal as a safe-haven asset. Disappointing US housing market data further reinforced beliefs that the Fed would soon lower borrowing costs, contributing to gold’s rally.