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Gold Gains as Traders Bolster Fed Cut Bets After Bessent Remarks
Gold advanced as traders reinforced bets of interest-rate cuts by the Federal Reserve after Treasury Secretary Scott Bessent urged the central bank to lower borrowing costs. Bessent made his most explicit call yet for the Fed to execute a cycle of interest-rate cuts, suggesting the central bank’s benchmark ought to be at least 1.5 percentage points lower than it is now. His comments boosted speculation that Fed will reduce rates next month, with some wagers pointing to a jumbo-sized cut. Bullion typically benefits in a lower-rate environment as it pays no interest. Meanwhile, the Trump administration is considering ... (full story)
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From spokesman.com | Aug 13, 2025
Gold advanced as traders reinforced bets of interest-rate cuts by the Federal Reserve after Treasury Secretary Scott Bessent urged the central bank to lower borrowing costs. Bessent made his most explicit call yet for the Fed to execute a cycle of interest-rate cuts, suggesting the central bank’s benchmark ought to be at least 1.5 percentage points lower ...
From tickmill.com | Aug 13, 2025
Gold prices are turning higher today but the market remains well within the range which has framed price action over the last four months. Following a strong rally over Q1 gold prices have been stuck within a roughly 10% range down from those YTD highs printed in April. A mixture of uncertainty around Trump’s trade agenda, fluctuating geopolitical tensions ...
US Treasury Secretary Bessent on Fed: I think we could go into a series of rate cuts. US Treasury Secretary Bessent: We should be 150,-175 bps lower on the Fed's rate now. BESSENT ON FED CHAIR NAMES: GOING TO CAST WIDE NET, 10-11 PEOPLE Bessent States That Trump Previously Considered Yellen and John Taylor for Key Positions BESSENT: I CALLED FOR SHADOW FED CHAIR BUT DON'T THINK SO NOW
