Gold prices rose to an all-time high at $2,589.6 an ounce on Monday, supported by a weaker dollar and the prospect of a big rate reduction by the Fed...
- Goldman Sachs reiterated its optimistic outlook on gold prices on Monday, citing central bank demand and the imminent interest rate cut from the U.S. Federal Reserve at its policy meeting this week.
Markets are currently pricing in a 33% chance of a 25-basis-point U.S. rate cut at the Fed's Sept. 17-18 meeting, and a 67% chance of a 50-bps cut, the CME FedWatch tool showed. Goldman Sachs noted that while a structurally higher demand from central banks has reset the relationship at the price level, changes in interest rates continue to drive fluctuations in gold prices.
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