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Gold Surges on U.S. Economic Fears and Rate Cut Speculation
Gold Surges on U.S. Economic Fears and Rate Cut Speculation
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BTCCSquare news:
Gold prices rallied to a two-week high as investors bet on a potential Federal Reserve rate cut in December. Futures ROSE 1.8% to $4,084.20/oz amid growing economic uncertainty fueled by weak labor data and government shutdown concerns.
The CME FedWatch Tool now prices a 67% probability of a December cut. 'Gold is catching a solid bid from traders anticipating looser monetary policy,' said Tim Waterer of KCM Trade. The metal traditionally thrives in low-rate environments.
Recent job losses across government and retail sectors, coupled with AI-driven layoffs, have amplified recession fears. This safe-haven demand offset earlier Fed attempts to temper rate cut expectations.
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