Gold hits record high as investors seek safe haven
Gold just hit a new record—$3,546.99 per ounce—on Wednesday, as investors bet the US Federal Reserve might cut interest rates soon.
Even small gains in spot and futures prices show people are turning to gold for stability while markets feel shaky.
Global tensions and US political moves add to uncertainty
When uncertainty rises—like now with global tensions and political moves in the US—gold becomes a go-to safe haven.
The Trump team's push for a Supreme Court review on tariffs has added to the nerves, and everyone's watching key jobs data that could sway the Fed's big September 17 decision.
Traders expect rate cut from Fed
Most traders now expect a rate cut from the Fed, which makes gold more attractive compared to low-yield investments.
Big players are piling in too: holdings in SPDR Gold Trust just jumped 1.32%, hitting their highest since August 2022.
So far this year alone, gold is up, thanks to steady demand.