Overview

• Spot gold set a new high on Monday near $3,733 per ounce as futures climbed to roughly $3,766, according to Investing data reported by EL CEO.
• The Fed last week cut its policy rate to 4.00%–4.25%, marking the first reduction since December and lowering real yield headwinds for bullion.
• CME FedWatch shows markets heavily price two more 25‑basis‑point cuts this year, with probabilities around 93% for October and 81% for December.
• Prices briefly slipped toward $3,650 after Jerome Powell’s cautious remarks prompted short‑term profit‑taking before the uptrend resumed.
• Analysts highlight strong central‑bank purchases and ETF inflows—Poland, Kazakhstan and Turkey added reserves in Q2—with several institutions projecting potential moves toward $4,000 in 2026.