Gold Futures Surge Amid Rate Cut Expectations and Geopolitical Tensions

According to BlockBeats, gold futures continued their upward trend on Monday, following a record high, driven by expectations of interest rate cuts and geopolitical tensions. The current trading price for gold futures is around $3,547, marking a 0.88% increase for the day, with an intraday peak of $3,557.10 per ounce. FxPro analyst Alex Kuptsikevich highlighted in a research report that ongoing macroeconomic and geopolitical developments are favorable for precious metals. Reports indicate that India is actively selling U.S. government bonds while increasing its gold reserves. Additionally, the lack of progress in peace talks between Russia and Ukraine has further fueled demand for safe-haven assets. Kuptsikevich noted that the most significant short-term positive factor is the rising market expectation of a Federal Reserve rate cut in September. However, he cautioned investors to remain prudent when participating in the current gold rally, as historical highs often lead to substantial profit-taking, similar to what occurred in April this year.