# Gold Hits New Record After Fed Maintains Rate-Cut Plan - Bloomberg

> Gold briefly rose above $2,200 an ounce to a record of $2,220.89 on expectations that the Fed will cut rates this year, then pared gains. Gold has rallied nearly 10% since mid-February.

- Date: 2024-03-20 · published 2024-03-20T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/31105-gold-hits-new-record-after-fed-maintains-rate-cut-plan-bloomberg
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The rally reflects expectations for looser US monetary policy and a softer dollar. It has little direct bearing on feed-ingredient prices.

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-03-20/spot-gold-rises-to-2-200-an-ounce-for-the-first-time

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.