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Gold Tops $3,700 as Traders Gear Up for Fed Meeting

  • Gold reached a new record high of over $3,700 an ounce, fueled by expectations of a Federal Reserve rate cut and a weaker US dollar.
  • The Federal Reserve will update its economic forecasts and Chair Jerome Powell will hold a press conference after the rate decision.
  • Gold has surged more than 40% this year, helped by weak labor data and central bank purchases.
  • Goldman Sachs Group Inc. predicts that gold could approach $5,000 an ounce if 1% of privately-held Treasuries are invested in gold.
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The precious metal surpassed $3,700 an ounce for the first time, boosted by expectations of a Fed rate cut, Trump pressure and central bank purchases.

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Bloomberg broke the news in United States on Monday, September 15, 2025.
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