Gold Price Hits New Record as Fed Rate Cut Expectations Surge

Post Views: 377 Gold Prices Gold Price Surges Amid Fed Rate Cut Speculation Gold prices climbed above $3,600 per ounce for the first time on Monday, setting a new record. The surge followed weaker US jobs data, which solidified expectations of a Federal Reserve interest rate cut this month. Spot gold peaked at $3,636.71 earlier before slightly retreating, while US gold futures rose modestly to around $3,676 per ounce. This momentum built on Friday’s payroll report, which showed slower hiring and a rise in unemployment to its highest level since 2021. Investors now price in an 88% chance of a 2...