Gold Hits Fresh Record on U.S.-China Trade Spat, Fed Rate-Cut Bets

Core Insights - Gold prices have reached a new record, climbing above $4,200 per troy ounce, driven by the U.S.-China trade tensions and expectations of further interest rate cuts by the Federal Reserve [1][2]. Group 1: Market Dynamics - In early trading, New York futures rose by 1.3% to $4,217.20 per ounce, with a session high of $4,218.20, while spot gold increased by 0.8% to $4,142.63 [2]. - Investors are increasingly turning to gold as a hedge against geopolitical uncertainties, particularly due to ongoing trade tensions between the U.S. and China and a prolonged government shutdown in the U.S. [2].