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.
26 Articles
26 Articles
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.
Gold has reached a new record on Monday, driven by the deceleration of the labor market in the United States published last Friday and that has increased bets on cuts of Federal Reserve rates. The ingot rises about 0.5% to exceed 3,615 dollars an ounce (about 3,080 euros), slightly above the previous record set last Friday, when it reached up to 1.5%.
Gold Prices Surge to Record High Amid Fed Rate Cut Speculation
Gold Prices Surge to Record High Amid Fed Rate Cut Speculation On Monday, gold futures surpassed the USD 3,600 per ounce threshold, setting a new record high, amid expectations of a rate cut by the US Federal Reserve. Gold was trading internationally at USD 3,656 per ounce at 16.06 IST.The allure of gold as a safe-haven asset intensified, driven by tariff uncertainties and firm rate cut expectations, according to Jateen Trivedi, VP Research Anal…
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