🥇 Gold Hits New High as Fed-Rate Hopes Ignite Safe Haven Demand

[theSignalyst]

Gold surged to a record high, spot gold reached $3,709.29/oz, while December futures jumped too, driven by strong expectations of more U.S. Fed rate cuts .

Markets are eyeing two more 25-bps cuts in October and December.

The rally is getting fuel from geopolitical worries, central banks buying, and investors seeking safety as inflation stays sticky. Gold’s already up nearly 42% this year.

[Rimon Khan]

Gold just doesn’t stop! $3,709/oz and still climbing with Fed cuts and central banks piling in. Safe haven shining bright.

[Nahid Hossen]

Spot gold ATH + futures rally Investors clearly betting on safety as global risks rise. Fed cuts only add fuel.