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2025-09-16 09:53:03
[Gold Prices Hit a New Record High, Expectations of a Fed Rate Cut Suppress the Dollar] 1. Gold prices continued their upward trend on Tuesday, hitting a new record high, primarily driven by the continued weakness of the US dollar. Markets generally expect the Federal Reserve to cut interest rates at this week's policy meeting, boosting the appeal of non-interest-bearing gold. 2. Spot gold is currently trading at $3,678.17 per ounce, having previously hit a record high of $3,689.41. 3. The US dollar index remains under pressure, hovering at a two-and-a-half-month low against the euro and near a ten-month low against the Australian dollar. US President Trump's social media post calling for "deeper rate cuts" from the Federal Reserve further reinforced market expectations of easing. 4. The interest rate futures market currently indicates that traders believe a 25 basis point rate cut at the Federal Reserve's upcoming meeting is almost certain, with even a smaller 50 basis point cut possible. Meanwhile, holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund (ETF), increased to 976.80 tons, a 0.21% increase from Friday, indicating continued expansion in investment demand.
