TOKYO – New money continues to flow into the gold market despite prices near record highs on expectations of a U.S. interest rate cut, with policy changes in India and central bank purchases in emerging markets such as Poland adding to passion.
New York gold futures are hovering around $2,550 a troy ounce, near an all-time high of $2,570.40 set on Aug. 20. Expectations of new capital inflows are now driving the market instead of China, the world’s biggest gold consumer.
