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2025-09-16 14:48:39
[Gold Prices Hit a New High! Expectations of a Fed Rate Cut Rise, US Dollar Continues to Under Pressure] 1. Gold prices climbed to a new record high on Tuesday, primarily driven by a weakening US dollar. The market generally expects the Federal Reserve to announce a rate cut at its upcoming policy meeting this week. 2. As of 2:47 PM, spot gold rose 0.37% to $3,692.48 per ounce, while December gold futures hit a high of $3,730.7 per ounce, both hitting new all-time highs. 3. Capital analyst Kyle Rodda stated, "Market sentiment is bullish... With the Federal Open Market Committee (FOMC) policy decision approaching, expectations of a rate cut continue to rise, and gold remains strong in the medium and short term." 4. Earlier, US President Trump posted on social media, calling on Federal Reserve Chairman Powell to implement "even deeper rate cuts." 5. According to the CME Group's FedWatch tool, traders generally expect the Federal Reserve to cut interest rates by 25 basis points at its two-day meeting ending on September 17, with a 50 basis point cut less likely. 6. The US dollar is hovering at a two-and-a-half-month low against the euro and nearing a 10-month low against the Australian dollar. 7. In addition, the world's largest gold ETF, SPDR Gold Trust (GLD), announced that its holdings increased by 0.21% from 974.80 tons last Friday to 976.80 tons on Monday. 8. On the other hand, the US Court of Appeals on Monday dismissed a lawsuit that would allow Trump to fire Federal Reserve Governor Lisa Cook. This is the first time a president has attempted to take such action since the establishment of the Federal Reserve in 1913, and the case has once again raised market concerns about whether the Federal Reserve's independence can be maintained.
