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Gold Cracks $2,600! Why The Fed’s Rate Cut Is Fueling Record Gold Prices | The Gold Spot
After months of anticipation, the Federal Reserve has executed one of the largest rate cuts in history, signaling the start of a new phase of quantitative easing that could weaken the dollar as investors turn to safe-haven assets.
Years of unchecked spending and printing during the pandemic forced aggressive rate hikes aimed at curbing surging inflation. Now, the Fed is reversing course, as Chair Jerome Powell is confident inflationary pressures are under control.
Although a 25-basis point cut mainly was expected, unimpressive economic data prompted a much larger half-point slash. This aggressive shift suggests the economy is worse than the Fed is letting on, especially since experts anticipate another 50-basis point cut before 2024’s end.
Rate cuts typically weaken USD demand as investors turn to more stable and protective assets, increasing the appeal of gold and silver. With gold prices jumping past $2,600 an ounce, many see this as a golden opportunity before the price of gold rises further.
In this week's The Gold Spot, Scottsdale Bullion & Coin Precious Metals Advisors Joe Elkjer and Damian White delve into the impact of this significant rate cut and its implications for the economy and gold investments.
Read more here: https://www.sbcgold.com/blog/fed-rate-cut-fuels-record-gold-prices/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09182024
⭐ RELATED LINKS:
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📈 See Live Gold and Silver Spot Prices:
https://www.sbcgold.com/charts/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09182024
🔗 Get Gold Bullion Bar Prices:
- https://www.sbcgold.com/buy-gold-and-silver/buy-gold-bars/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09182024
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⭐ SBC Gold Precious Metals Advisors in this The Gold Spot video:
👤 Joe Elkjer: https://www.sbcgold.com/about/joe-elkjer/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09182024
👤 Damian White: https://www.sbcgold.com/about/damian-white/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09182024
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