Overview
- London price peaked at $3,659.36 per ounce on Tuesday, the third straight session of record highs.
- The euro-denominated price also set a record at €3,107.
- Markets increasingly price a sizable Federal Reserve reduction, with some betting on a 50 basis-point cut next week.
- Dollar softness has boosted overseas demand for dollar-priced bullion, reinforcing safe-haven flows linked to geopolitical tensions and state buying by India and China.
- Year-to-date gains are about 40%, and banks’ projections include roughly $3,900 at JPMorgan and a Goldman scenario near $5,000 contingent on President Donald Trump undermining Fed independence and investors shifting out of government bonds.