Gold goes ‘parabolic’ as investors bet big on the Fed

Investors are banking on the record run in gold to continue, turbocharging the ASX-listed gold miners on expectations that further interest rate cuts from the US Federal Reserve will fuel the next leg of demand.

The precious metal has jumped 10 per cent over the past month and this week reset its record high at $US3,759.23 an ounce after the Fed last week cut interest rates for the first time this year and indicated more to come. Commonwealth Bank tipped the price could hit $US4000 by the end of the year.

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