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3h ago

Gold Sets New Records Before Brief Pullback as Rate-Cut Bets Swell

Safe-haven demand tied to expected Fed cuts plus a softer dollar keeps bullion near its highs.

Amid a government shutdown, gold is looking all the more attractive to investors.
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This 20kg gold brick has soared in price over the past year.
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Overview

  • Spot gold touched about $3,895 per ounce before easing roughly $20–$25 to near $3,865, marking a quick pause after fresh records.
  • Pakistan’s benchmark price reached Rs410,278 per tola then slipped by about Rs2,500 to Rs407,778 as local rates tracked the global dip.
  • Traders point to safe-haven flows, a weaker dollar and very high market odds of a 25 basis-point Federal Reserve cut as key supports.
  • Central-bank accumulation and investor inflows underpin the outlook, with Goldman Sachs projecting prices could reach $4,300 by late 2026.
  • Retail buying is surging in Australia, where queues formed for physical bars priced just under $6,000, while Pakistan’s SBP raised Rs2.13 trillion in debt auctions with yields near 11% that shape local liquidity.