BNB, NEM, KGC: Gold’s Rally Revives as Rate Cut Bets Fuel Market Frenzy

Gold-linked assets surge as traders price in dovish Fed pivot.

Speculation Overrides Fundamentals

Precious metals and correlated tokens rally on pure rate-cut hopium—ignoring sticky inflation data. BNB and NEM outperform as crypto traders front-run imaginary liquidity.

Miners Strike Gold (Temporarily)

KGC and other miners spike 15% in a classic "bad news is good news" play. Because nothing says 'healthy market' like celebrating economic weakness.

Watch for the inevitable rug-pull when Powell inevitably disappoints the permabulls.

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Gold’s price is back trading right around $4,125 per ounce, having gained 3% on Nov. 10. After a record setting rally throughout most of the year that pushed gold above $4,300 an ounce for the first time, the price of bullion had fallen in recent weeks and sunk below the key support level of $4,000.

The recovery that’s now underway comes on news of an agreement in the U.S. Congress to end the government shutdown that’s entering its seventh week. Analysts say the end to the shutdown will see key economic indicators released by the American government, providing the U.S. Federal Reserve with the data it needs to make future decisions on interest rates.

Rate Cut Expectations

Futures markets are betting that there’s a 67% chance the U.S. central bank will lower interest rates another 25 basis points at its Dec. 10 meeting, the last one of the year. Rate cuts are bullish for gold as they lower the opportunity cost of owning the precious metal.

The government data, that includes an inflation reading and labor market survey, are expected to show a worsening economic picture in the U.S. potentially spurring the Fed to lower interest rates and providing gold with a tailwind. The safe haven appeal of gold has also been boosted in recent days after TRUMP promised to pay every American a $2,000 “tariff dividend.”

The recovery in gold’s price has boosted the stocks of miners such as Barrick (B), Newmont (NEM), and Kinross Gold (KGC).

Is B Stock a Buy?

Barrick Mining’s stock has a consensus Strong Buy rating among 15 Wall Street analysts. That rating is based on 12 Buy and three Hold recommendations issued in the last three months. The average B price target of $40.35 implies 16.15% upside from current levels.