Gold surges near record high as investors bet on Fed rate cut
New York Post·2025-09-10 19:48
Gold was charging near a record high Wednesday, trading around $3,650 an ounce after US wholesale prices unexpectedly fell and investors piled into bets the Federal Reserve will slash interest rates next week.The precious metal brushed an all-time peak of $3,674 earlier this week and has already soared 40% in 2025, trouncing stocks and other major assets.Wednesday’s surge came after the Bureau of Labor Statistics reported that the producer price index dropped 0.1% in August, defying forecasts for a rise. ...