Gold extended its rally to another fresh record high while copper prices jumped to their highest level since June 2024, as market participants geared up for a potential easing of US Federal Reserve policy and wait for further rate cut signals this year. Investors expect a quarter-point rate cut this week amid signs of a weaker labour market. Swap markets also price in at least one more cut by the end of the year, with a strong chance of a third. These expectations have pushed Treasury yields to multi-month lows and weakened the dollar index. Continued concerns over the Fed’s independence will also remain the focus ... (full story)