US EditionNews24 | Gold Hits yet Another Record on Fed Rate Cut Bet, US-China Tensions
Gold prices rose over 60% this year, driven by Federal Reserve rate cut expectations and escalating US-China trade tensions, boosting demand for safe-haven assets, analysts said.
- On Wednesday, gold rose to a fresh high just shy of US$4,200, with spot up 0.8% at US$4,173.56 after an earlier intraday record peak.
- After Powell signalled cuts, traders priced in a 95% chance of a half-point cut by year-end while renewed US-China trade tensions boosted safe-haven demand for gold.
- Trading in precious-metals contracts confirmed the rally as gold futures and U.S. December futures rose, with silver and platinum also strengthening.
- Risk-Off flows lifted safe-haven demand after President Donald Trump said Washington was considering cutting some trade ties with China, while the U.S. dollar fell 0.2%, S&P 500 futures added 0.6%, and the 10-year U.S. Treasury yield slipped 3 basis points.
- Analysts note the strong year-to-date gains and central bank buying as gold has risen about 60% this year amid central banks and rising exchange-traded fund holdings.
21 Articles
21 Articles
In any case, the prospects for an early interest rate reduction are being better interpreted by investors in any case by Fed CEO Powell. Not only tech values but also the gold price benefit from this.
Times of India
The Economic TimesUS stocks jump today: Dow, S&P 500, Nasdaq futures gain over 0.5% as Wall Street bets on rate cuts; Tesla and AMD rally, gold hits record high, bank earnings drive market buzz
US stock futures are climbing fast today. Investors are betting on interest-rate cuts. The Dow rose about 0.4%, the S&P 500 added 0.6%, and Nasdaq futures surged 0.8%. Fed Chair Jerome Powell hinted the economy faces risks, boosting hopes for rate cuts. The earnings season heats up with key reports from major banks and tech firms. Trade tensions and a government shutdown add uncertainty. Tesla and AMD rallied in premarket action, while gold pric…
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