Gold Hits Record High on Rate Cut Hopes

Source:

"We are not talking about $900 now. We are talking about $1,000," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.

Gold hit a record high near $900 an ounce on Friday, driven by hopes of a half-point cut in U.S. interest rates later this month that could raise the metal's appeal as an alternative investment...

"We are not talking about $900 now. We are talking about $1,000," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.

"Of course sentiment is really bullish, but I think the more bullish the market is, the more dangerous it is," he said.

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