"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Gold surged toward $2,590 per ounce on Monday, setting a new record high, supported by a weaker dollar and lower bond yields amid growing expectations of an aggressive US interest rate cut this week. Fed fund futures indicate that investors are increasingly betting the Federal Reserve will opt for a 50 basis point cut, with markets pricing in a 59% chance, while the odds for a modest 25 basis point reduction stand at 41%, according to CME’s FedWatch Tool. This follows a weekly job report that signaled further softening in the labor market, as evidenced by weak August payroll data. Recent data also showed that US inflation is trending lower, though some stickiness remains. Additionally, gold benefited from the ECB's decision to lower its main interest rate last week, reflecting growing confidence among policymakers that inflation in the region is steadily declining.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by JBmurc
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