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Gold Sets New Record Above $3,500 as Silver Tops $40 on Fed-Cut Bets

Investor bets on a September Fed cut have shifted focus to U.S. jobs data and the next policy meeting.

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Weltmünzen aus Silber: Das Edelmetall ist auf Euro-Basis so teuer wie nie zuvor - und Experten sehen weiteres Potenzial
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Overview

  • Spot gold briefly reached about $3,508–$3,509 per ounce overnight on Sept. 2, and silver traded above $40 for the first time since 2011.
  • A weaker dollar and rising expectations of U.S. rate cuts supported non-yielding metals, with safe-haven demand adding momentum.
  • Market commentary links President Donald Trump’s pressure on the Federal Reserve to reduced confidence in the dollar and stronger bullion buying.
  • Silver’s advance is underpinned by seven straight months of ETF inflows, falling London inventories, record 2024 industrial demand, and a likely fifth yearly supply deficit.
  • Traders are eyeing Friday’s U.S. August jobs report and the upcoming Fed decision as the next catalysts, while stocks such as Germany’s DAX slipped below 24,000 as capital rotated into metals.