This is a news story, published by Yahoo Finance, that relates primarily to The World Gold Council news.
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gold returnsInsider
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84% Informative
Gold hit a record high of $ 2,772 per troy ounce this week and has risen in six of the past seven weeks .
Year-to-date gold returns have outpaced the broader stock market by about 10 percentage points.
Central banks have been on a gold-buying spree over the past few years .
Gold is considered a safe haven asset due to its long-standing history as a store of value.
The World Gold Council says falling interest rates have historically benefited gold prices.
With the Fed expected to cut interest rates multiple times over the next year , lower rates should serve as a tailwind for gold.
The People's Bank of China cut rates by 25 basis points this week , while the Bank of Canada cut by 50 basis points.
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86
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