Precious Metals Rally as Fed Rate Cut Bets Intensify
Gold held NEAR six-week highs as a softening dollar and rising expectations for Federal Reserve rate cuts fueled demand. The metal traded at $4,240.55/oz after touching $4,256.20 earlier, with markets pricing an 87% probability of a December cut following subdued inflation data.
Silver's parabolic rally continued, doubling year-to-date to reach $57.86/oz amid severe supply constraints. Warehouse inventories hit decade lows as industrial demand collided with shrinking exchange stockpiles.
The precious metals surge coincides with political uncertainty around Fed leadership. President TRUMP acknowledged selecting a new Chair candidate, with speculation focusing on Hassett, Warsh, and Waller - appointments that could reshape monetary policy direction.
