The gold continues to update its historic tops, continuing a bullish trend that pushed the price very close to the 2,700 dollars the ounce, thanks to the renewed geopolitical tensions and the prospects of an almost certain cut of the rates by the Federal Reserve at the meeting next week.
The movements of gold
The gold spot price reached a maximum of $ 2,655 this morning, rising by $ 0.8% compared to the eve, while the future contracts for delivery December have gone up to a maximum of all times of $ 2,696.45 the ounce, with a progress of 0.2% compared to yesterday.
If the daily performance is not amazing, it is certainly the monthly one, which marks a+8.4%, serving the change of prospects on rates by the Fed. At this point, gold highlights a profit of almost 40%since the beginning of the year, with an effect fell on other precious metals such as silver (+42%), platinum (9+53%) and Palladio (+32%).
The geopolitical effect
The developments of the geopolitical situation also contribute to stimulating purchases on the metal, which sees its escalation in the Eastern European and in the Middle East. Israel came to bomb Doha (Qatar) to hit Hamas’ leaders, fueling the risk of an enlargement of the conflict.
On the Ukrainian front, an air attack on western Ukraine also alarm Poland, whose aerial space was violated by Russian drones, which were promptly demolished by the Polish and NATO military forces. An act that reiterates the unavailability of Moscow to carry on serious peace negotiations and that still threatens a vote the EU boundaries.
Expectations for the decisions of the Fed
If the ECB tomorrow confirms the current level of interest rates, which have reached the “neutrality” area 2%, the Fed instead prepares to announce a cut of the rates of 25 base points next week, even if someone more daring also focuses on a half point cut.
The FOMC, which will meet on 16-17 September, will have to take note of the clear braking of the labor market, which created just 22 thousand jobs in August and created almost 1 million less than expected in the twelve months in March 2025. And precisely this prompted the secretary of the Treasury Scott Beesent to declare that “President Trump inherited a much worse economy of the feed, The growth with high rates is suffocating. “
The weak dollar
On the other side of the scale the green ticket, which is confirmed as weak. The euro/dollar gearbox is confirmed to 1.1719 USD, after touching a monthly peak yesterday 1,1778, very close to the maximum of the year reached at the end of June above 1.18 dollars. Even the US currency is affected by the expectation of a more accommodating monetary policy by the US Central Bank.
