Gold Hits Record High as Markets Digest Fed Rate Cut Expectations and Trump’s Trade Rhetoric
Gold surged to a historic peak above $4,150 per ounce as traders priced in anticipated Federal Reserve rate cuts, marking a sharp rebound from Friday's $2 trillion market wipeout. The rally was fueled by a combination of steady central bank buying, robust ETF inflows, and escalating trade tensions. Phillip Streible of Blue Line Futures projects Gold could reach $5,000 by 2026, citing macroeconomic tailwinds.
Tech stocks led Wall Street's recovery after former President Trump softened his tariff rhetoric on Truth Social. Broadcom soared 10% following its OpenAI partnership, while Nvidia and AMD gained 3% and 1%, respectively. The Nasdaq outperformed with a 2% rise, and nearly 80% of S&P 500 components closed higher.