Rafael Puerari on Nostr: Gold Hits Historic High Amid Fed Rate-Cut Speculation and Geopolitical Tensions Gold ...
Gold Hits Historic High Amid Fed Rate-Cut Speculation and Geopolitical Tensions
Gold surged to a historic high of $2,509.65 as optimism grew over a potential interest rate cut by the U.S. Federal Reserve in September. This milestone was driven by increased geopolitical tensions and robust central bank purchases, pushing gold over 20% higher this year. While some profit-taking has occurred, traders remain focused on the Fed's upcoming decisions, with a 75.5% chance of a 25-basis-point rate cut predicted. Analysts expect a slowing U.S. economy, lower yields, a weaker dollar, and continued geopolitical risks to sustain gold's upward trajectory in the long term.
Gold surged to a historic high of $2,509.65 as optimism grew over a potential interest rate cut by the U.S. Federal Reserve in September. This milestone was driven by increased geopolitical tensions and robust central bank purchases, pushing gold over 20% higher this year. While some profit-taking has occurred, traders remain focused on the Fed's upcoming decisions, with a 75.5% chance of a 25-basis-point rate cut predicted. Analysts expect a slowing U.S. economy, lower yields, a weaker dollar, and continued geopolitical risks to sustain gold's upward trajectory in the long term.