GoldWorldWide @GoldWorldWide: "Gold touches six-week high as..."

Smart Portfolio

Gold touches six-week high as rate cut bets weigh on dollar; silver hits record high 👉 $GOLD prices rose to a six-week high on Monday, supported by growing expectations of U.S. interest rate cuts and a sliding dollar, while silver struck a record high ahead of key U.S. economic data. 👉 The U.S. dollar slipped to a two-week low, making gold more affordable for holders of other currencies. 👉 "The underlying environment of expectations of further rate cuts, along with inflationary pressure still above the Fed target ... is still the underlying support in gold and silver," said David Meger, director of metals trading at High Ridge Futures. 👉 Traders have increased December rate-cut bets to an 87% probability, following softer U.S. economic data and dovish remarks from Fed officials, including Governor Christopher Waller and New York Fed President John Williams. Lower interest rates tend to favor non-yielding assets such as gold. 👉Investors are also focusing on key U.S. data this week, including November ADP employment figures on Wednesday and the delayed September Personal Consumption Expenditures (PCE) Index, the Fed's preferred inflation gauge, due Friday. Fed Chair Jerome Powell's remarks later on Monday are also expected to offer further policy clues. 👉 Meanwhile, the expectation that the next Fed Chair is going to be more dovish than previous ones is also supporting gold and silver, Meger said. 👉 White House economic adviser Kevin Hassett said on Sunday that, if chosen, he would be happy to serve as the next Fed chairman. Treasury Secretary Scott Bessent indicated a new chair could be named before Christmas. 👉 "We still view gold and silver in a strong sideways to higher uptrend," Meger said. Read more ❓ www.reuters.com/world/india/gold-climbs-six-week-high-risk-off-sentiment-equities-lower-dollar-2025-12-01/ ✨ eToro’s @GoldWorldWide Smart Portfolio offers investors exposure to some of the world’s largest companies active in the mining and production of gold, as well as related ETFs based on the gold industry. Some of the assets invested in this portfolio include $AEM (Agnico Eagle Mines Ltd) , $HL (Hecla Mining Company) , $KGC (Kinross Gold Corp) , $EGO (Eldorado Gold Corp) , $GFI (Gold Fields Ltd-ADR) , $B (Barrick Mining Corp) and $WGLD.L (WisdomTree Core Physical Gold) . The minimum investment amount for the @GoldWorldWide Smart Portfolio is $500. Past performance is not an indication of future results.