Gold prices surged above $3,700 an ounce on Tuesday, setting a new all-time high at $3,703.24, as traders ramped up bets on a Federal Reserve rate cut at the conclusion of this week’s FOMC meeting. The rally gained further traction as the U.S. Dollar Index (DXY) plunged to its lowest level since early July, reinforcing the bullish momentum in bullion. Traders are pricing in a near-certain 25-basis-point rate cut, with a slim chance of a 50-bp move, according to CME FedWatch data. U.S. President Donald Trump amplified market pressure by calling for a “bigger” rate cut via social media on Monday, signaling political ... (full story)