Live Updates > Live Update Details
2025-09-12 23:39:57
Gold Holds Near Record High Ahead of Next Week's Fed Meeting: At 11:37 PM Beijing Time, gold prices approached their all-time high as signs of a weakening US labor market reinforced expectations that the Federal Reserve will cut interest rates at its next meeting. In evening trading, gold futures rose 0.2% to $3,680 per troy ounce, up nearly 1% for the week. Saxo Bank analysts stated, "The market believes that weak economic data, particularly the weak employment data, means a rate cut is inevitable. Assuming the Fed does cut rates, the market will closely monitor Powell's latest statement and press conference to determine whether this is the first of multiple rate cuts or whether the guidance is more cautious about inflation risks." Meanwhile, the University of Michigan's consumer confidence index for September deteriorated more than expected, falling to a four-month low.
