Gold hits $3,360 as 95% of traders bet Fed cuts rates - here's why
Key Points
- Gold hits $3,360 as traders anticipate a Fed rate cut, despi...
Gold just hit $3,360, and suddenly everyone's an expert on precious metals again. The shiny stuff is having its moment as traders pile in with 95% certainty that the Fed will cut rates next month - because apparently we've all become fortune tellers overnight.
The latest inflation numbers dropped like a mixed bag of Halloween candy. Headline inflation came in at 2.7% (slightly below expectations), while core inflation decided to be the rebellious teenager and climbed to 3.1%. But here's the kicker: instead of freaking out about that core number, markets are acting like this is exactly what th...
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