US EditionGold Prices Surge to Record High Amid Fed Rate Cut Speculation
Gold prices climbed over 38% this year as central banks increased purchases and investors sought safe-haven assets amid weak U.S. jobs data and geopolitical tensions.
- Gold prices surged past $3,600 per ounce on Monday in global markets amid rising demand and geopolitical uncertainty.
- This rally followed weak US jobs data released last week, which strengthened speculation that the Federal Reserve will cut interest rates this month.
- In August, China continued to increase its gold reserves for the tenth month in a row, raising its holdings to 74.02 million fine troy ounces, which has contributed to the ongoing rise in gold prices.
- Jateen Trivedi highlighted that gold's attractiveness increased amid ongoing trade disputes and strong predictions of interest rate reductions, with the price of the metal at $3,656 per ounce as of 16:06 IST.
- Anticipation of Federal Reserve rate reductions, ongoing acquisitions by central banks worldwide, and uncertainty in the global economy collectively support gold's potential to continue rising, even though it may face brief periods of price stabilization.
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The gold price reaches one peak after another. Some investors rely on a large interest rate cut by the Fed. Donald Trump's attacks could provide a new boost.
Gold hits record high, surges above $3,600 as weak US jobs data fuels Fed rate cut bets
Gold climbed to a record high above $3,600 an ounce on Monday after weak US jobs data strengthened expectations of a Federal Reserve rate cut next week, with investors also buoyed by central bank buying and global uncertainty.
·Mumbai, India
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Total News Sources37
Leaning Left3Leaning Right5Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 30%
C 20%
R 50%
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