Gold Prices Surge to Four-Month High Amid Fed Rate-Cut Speculation

Gold rallied to $3,490 an ounce, its highest level in four months, buoyed by a weaker dollar, safe-haven demand, and growing expectations of Federal Reserve rate cuts. The XAU/USD pair remains firmly above $3,345, with key buy zones identified between $3,447-$3,436 and $3,416-$3,404.

Market sentiment hinges on upcoming U.S. economic data, including ISM, JOLTS, ADP, and NFP reports. While resilient wage growth or services sector performance could cap gains, softer labor figures may propel Gold toward retests of $3,440-$3,500—potentially challenging all-time highs.

Falling Treasury yields and macroeconomic uncertainty continue to drive flows into the precious metal. Traders are pricing in a September Fed pivot, though caution persists ahead of this week's data deluge.