Gold prices hit a new record high as rate cut expectations rise to 90%
Jinse Finance reported that due to a weaker US dollar and rising expectations that the Federal Reserve may continue to cut interest rates later this year, gold prices rose on Monday, once again reaching record highs. According to CME FedWatch data, traders currently estimate a 90% probability of a rate cut by the Federal Reserve in October, and about a 65% probability in December. Investors are waiting for US job openings, private employment data, ISM Manufacturing PMI, and Friday's non-farm payroll report to look for further clues about the health of the economy. (Golden Ten Data)
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