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Gold prices scaled to another record high Monday, propelled by U.S. interest rate cut expectations and the metal’s appeal as a safe haven asset.

HSBC has launched tokenised gold to its retail customers in Hong Kong as part of a push by the bank and the government to make real-world assets available in digital form.

Copper rallied back above $9,000 a ton as investors weighed upbeat factory data from top consumer China and the potential for output cuts by the country’s leading smelters.

Gold prices approached record highs, driven by safe-haven demand after a major earthquake in Taiwan and ongoing U.S. interest rate concerns. The disaster in Taiwan, which impacted its semiconductor production and raised tsunami alerts in Japan, along with hawkish remarks from Federal Reserve officials, heightened market anxiety.

Gold prices are higher and hit another record high overnight, at $2,308.80 basis June Comex futures, while silver prices are also up and hit a two-year high of $26.68, basis May Comex futures.

Gold notched a fresh record and silver hit a two-year high as two Federal Reserve officials said they still expect the US central bank to cut rates three times in 2024, with Chair Jerome Powell due to speak later Wednesday.

Copper prices are likely to stabilize in the coming quarters despite a recent surge in the red metal’s value, analysts have predicted.Three-month copper futures on the London Metal Exchange (LME) broke the $6,000-a-ton threshold by the end of June — a far cry from its low of around $4,626.50 at the height of Covid-19 fears

Silver has made significant gains in the past, but has not risen past US$20 per ounce since 2016. Nonetheless, well-known figure Keith Neumeyer, CEO of First Majestic Silver (TSX:FR,NYSE:AG), believes the white metal could reach into the triple digits, an idea he reiterated in an interview at the top of 2020.Neumeyer has voiced this opinion many times, giving the

New York (CNN Business)Gold prices continued their scintillating run Wednesday, rallying yet again to hit an all-time high of above $1,950 an ounce. A new record above $2,000 seems inevitable — and investors can thank stimulus from the Federal Reserve, low bond yields and a weakening US dollar for that. Gold has surged nearly 30% in 2020. Traders have flocked

Gold’s surge to an all-time high is winning over a wider fan base of pension funds, insurance companies and private wealth specialists.Managers who run long-term portfolios worth trillions of dollars are taking interest in gold as they search for returns in a yield-starved investing landscape. The broader array of buyers is one of the key