Gold Soars to Record High on Fed Rate Cut Speculation
TL;DR Summary
Gold prices surged to a record high above $2,460 an ounce amid rising expectations of a Federal Reserve interest rate cut in September, bolstered by softer inflation data and dovish comments from Fed Chair Jerome Powell. A weakening dollar and increased central bank demand for gold also contributed to the rally. Gold mining stocks saw gains, with the VanEck Gold Miners ETF up 3%.
- Gold jumps to record above $2,460 an ounce on hopes Fed will soon cut rates CNBC
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- How the Trump assassination attempt is helping lift gold prices toward record highs MarketWatch
- Gold prices pop to record high as banks bet on two U.S. rate cuts (NYSEARCA:GLD) Seeking Alpha
- Gold sprints to all-time high as Fed rate-cut hopes boost demand Reuters.com
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