"Gold Surges to All-Time High of $2,200 per Ounce Amid Rate-Cut Plan and Wedge Breakout"
TL;DR Summary
Gold surged above $2,200 an ounce for the first time after the Federal Reserve maintained its outlook for three rate cuts this year, signaling a tolerance for inflation. The rally has been driven by expectations for looser US monetary policy and geopolitical risks, with Chinese buying also underpinning the market. Spot gold rose to $2,201.94 an ounce, while silver, platinum, and palladium also saw gains.
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