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Gold price soars to all-time high amid prospects of rate cut, Trump's re-election

美 금리인하 기대•트럼프 재선 관측에 금값 사상 최고 Gold price soared on Tuesday to reach a new all-time high, amid prospects of a September rate cut and former U.S President Donald Trump's re-election in November. Despite signs of U.S. Fed cutting rates soon, Trump says the central bank shouldn't make such a decision before the presidential election. Lee Seung-jae reports. The price of gold rose to an all-time high on Tuesday amid rate cut expectations, and the prospect of a White House return for former U.S. President Donald Trump. Gold futures for August delivery trading on the New York Mercantile Exchange closed at two-thousand-467 dollars and 80 cents per ounce, up one-point-six percent from the previous trading session, to set a fresh all-time high. Soaring gold prices come amid market expectation that the U.S. Federal Reserve will almost certainly cut the benchmark interest rate by September. Gold prices tend to rise when inflation expectations rise or interest rates fall. Analysts also say growing speculation that Donald Trump, who survived an assassination attempt last weekend,.. would be re-elected is driving up the gold price. The Financial Times pointed out that Trump's tariff and tax cut policies could increase U.S. fiscal deficit and geopolitical tensions, which would boost inflationary pressure and lure investors to safer assets like gold. The Dow Jones also surged during Tuesday's trading session, up 742-point-seven-six points, or one-point-eight-five percent from the previous session, to close at 40-thousand-954-point-four-eight. The index of 30 prominent companies listed on stock exchanges reached back-to-back days of fresh all-time highs, as it marked the largest single-day increase in 13 months. The S&P 500 also jumped 35-point-nine-eight points, or zero-point-six-four percent from the previous trading session,.. closing at another all-time high of 5-thousand-667-point-two-zero. While the positive momentum on Wall Street is mainly centered on rate cut expectations, Trump says rates should not be cut before November's presidential election. During an exclusive interview with Bloomberg released Tuesday, the former president warned the U.S. Fed should abstain from cutting rates and giving the economy and his rival Joe Biden an election boost. According to Bloomberg, Wall Street expects two interest rate cuts before the end of the year, including one before the November election. Trump says it's something the U.S. Fed "knows they shouldn't be doing." Lee Seung-jae, Arirang News. #Gold_price #interestrate_cut #UnitedStates #US_economy #Donald_Trump #트럼프 #금리인하 #금값 #Arirang_News #아리랑뉴스 📣 Facebook :   / arirangtvnews   📣 Twitter :   / arirangtvnews   📣 Homepage : https://arirang.com/ 2024-07-17, 12:00 (KST)

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