Earlier this week, the Federal Reserve maintained its stance on interest rates, refraining from cuts as it combats the persistent climb of inflation. Chair Jerome Powell emphasized the ongoing struggle to bring inflation back toward 2%, casting doubt on the path ahead for policymakers.
With inflation on the rise, gold shines as an ideal investment, known to safeguard against inflation and maintain its value during economic uncertainty. June-dated gold futures (GCM24) recently peaked at a new record high above $2,448 an ounce, with spot gold gaining 14.5% over the past year.
