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Gold and Silver Rally Accelerates as Fed Rate Cut Odds Jump to 87%
Gold remained near its highest level in six weeks on Monday, trading at $4,240.55 per ounce after touching $4,256.20 earlier in the day. The metal posted a gain of more than 4% during the previous week. A weaker US Dollar Index, which fell to a two-week low, made gold more affordable for buyers using other currencies. Safe-haven demand also contributed to the metal’s stability as broader financial markets showed signs of risk aversion. Interest rate cut expectations have grown stronger over recent days. Market data indicates an 87% probability that the Federal Reserve will reduce rates by 25 basis points at its ... (full story)
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