Gold prices charged to a record high on Monday as a weaker dollar and the prospects of aggressive U.S. monetary policy easing boosted non-yielding bullion’s appeal.
Job Market
The Fed is ready to free up the US economy with a soft landing
The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the US economy.
Gold Monthly Forecast: Gold’s rally is just getting started
Gold Monthly Forecast: We believe the most anticipated US rate cut in decades will bring fresh impetus to gold prices. We have revised our gold forecast higher, and we now expect prices to average $2,700 in 2025.
![Fed-Speak: Rate cuts coming [09-09-2024]](https://www.goldsilverreports.com/wp-content/uploads/2017/09/Fed-neal-bhai-reports.jpg)
Fed-Speak: Rate cuts coming [09-09-2024]
Fed-Speak: Federal Reserve Bank of New York President John Williams said it is appropriate to slash rates on colling job market and disinflationary trend. He added that it is unlikely that the labour market will be a source of price pressures going forward and timing of rate cut will depend upon incoming data, the evolving outlook and the balance of risks. Fed’s Waller said that he would back front-loaded rate cuts if required. Goolsbee also called for rate cuts.
Gold Weakens in Highly Volatile Trade Amid Uncertainty over Interest Rate Cut
On Friday, spot gold was highly choppy and volatile in reaction to the US nonfarm payroll report (August) as the report sent mixed signals on the possible pace of rate cuts that are likely to begin at the September FOMC meeting to be concluded on September 18, 2024. Fed officials’ comments on the US monetary policy also added to volatility in gold prices.