Sep 08, 20259452 Views
Sep 08, 2025
spot gold broke through $3600 during the early European session, hitting a new historical high, mainly due to the market's enhanced expectations of a rate cut by the Federal Reserve this month. Following last week's weaker-than-expected non-farm payrolls report, investment banks have increased their bets on the Fed cutting rates this year. Bank of America expects the Fed to cut rates twice this year, compared to their previous forecast of no rate cuts. Standard Chartered Bank expects a 50 basis point rate cut in September, up from their previous forecast of a 25 basis point cut. Macquarie has brought forward their rate cut forecast from December to October, while Barclays expects the Fed to cut rates continuously this year.
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