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Gold hits highest price since April as Fed rate-cut bets
Gold just hit its highest price since April, climbing to $3,457.16 per ounce on Monday.
The main reason? Investors are betting big that the US Federal Reserve will soon cut interest rates, making gold a more attractive place to park their money.
Gold shines brighter amid Fed rate-cut expectations
With strong consumer spending and inflation ticking up, there's now an 87% chance the Fed will lower rates by 0.25%.
That's got people flocking to gold—SPDR Gold Trust holdings rose over 1% to nearly 978 tons.
Meanwhile, worries about US tariffs and legal battles have shaken Asian stock markets, so gold is looking like a safer bet for many right now.