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2024-09-27 | Market Dive

Can the Fed’s New Rate Cut Push Gold Toward $3000?

On Wednesday, the Federal Reserve slashed interest rates by 0.5%, the first cut in four years and the largest in 16 years. This significant move signals the beginning of a new easing cycle, with more cuts likely by year-end. In response, gold, the go-to safe-haven asset, has soared to new highs, surpassing USD 2,600. As global economic uncertainty and geopolitical risks grow, could gold be on its way to hitting the USD 3,000 mark?