Traders are betting up the ante on Fed rate cuts and Trump victory
2024-07-16 15:25:18
Gold prices once again hit a record history due to market Fed interest rate cut hopedesk3cryptocurrencydesktopCrypto News
Gold prices hit another all-time high as hopes for a cut in interest rates from the Federal Reserve mounted and some traders ramped up their bets on Mr. Trump's re-election as US president. Spot gold briefly hit $2451.44 an ounce, breaking a previous high set at the end of May. Signs of slowing US inflation have fuelled speculation that the Fed will soon start cutting interest rates. Investors across markets are also weighing the chances of Mr. Trump returning to the White House as his campaign "rages" after weekend assassinations and the dismissal of criminal charges.
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