New York CNN —
The 2024 monster gold rally is picking up steam.
The most actively traded gold futures contract has hit repeated highs this year, most recently notching a fresh record of $2,687.30 on Tuesday before retreating. That comes after the Federal Reserve slashed US interest rates by a supersized half point last week.
Gold, traditionally perceived as a haven, has climbed roughly 30% this year, outperforming the benchmark S&P 500 index’s 20% gain. That has in part been driven by a jump in demand from central banks including in China, Turkey and India,
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