The price of gold rallied to a new high this week surpassing US$2,530 an ounce, surging by over 20% year-to-date. The rally is said to be driven by growing investor confidence that the US Federal Reserve will cut interest rates next month. Christopher Wong, an FX strategist at OCBC, shares his view on whether or not this rally still has legs and if investors should consider adding gold to their portfolios.



Image Credit: shutterstock.com

The price of gold rallied to a new high this week surpassing US$2,530 an ounce, surging by over 20% year-to-date. The rally is said to be driven by growing investor confidence that the US Federal Reserve will cut interest rates next month. Christopher Wong, an FX strategist at OCBC, shares his view on whether or not this rally still has legs and if investors should consider adding gold to their portfolios.Image Credit: <a target="_blank" rel="noopener noreferrer nofollow" href="http://shutterstock.com">shutterstock.com</a>

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