Gold Price Surges Back Above $4,000 on Fed Cut and Trade Hopes – Is $5,000 Next?
Gold rebounded to $4,028/oz mid-morning Oct. 29, up 1.9% after a steep drop from the Oct. 20 record of $4,381/oz. The metal remains up about 57% year-to-date, its strongest rally since 1979. Investors expect a Fed rate cut later today. Central banks and Indian buyers continue to drive demand.