The price of gold surged sharply on Wednesday, reaching a new record of $3,530.08 per ounce. Analysts say the rise is driven by expectations of a U.S. Federal Reserve (Fed) rate cut in September and concerns over the central bank’s independence.
By 17:30 GMT, gold stood at $3,528.80 per ounce and currently trades around $3,526.80.
Gold had already hit record levels earlier this year, surpassing $3,500 amid global trade tensions sparked by U.S. tariffs. The “safe-haven” metal has gained more than 33% so far this year.
Prices had stabilised around $3,400 as trade fears eased, but renewed expectations of a Fed rate cut for the September meeting have lifted demand once again.
The Fed is set to announce its interest rate decision later this month. Money markets assign an 88% probability of a rate cut, with two cuts expected by the end of the year. Inflation in July fell below expectations and employment growth slowed, prompting markets to anticipate a 25 basis-point reduction in September. The current policy rate stands at 4.25%-4.5%.
At the Jackson Hole symposium in mid-August, Fed Chair Jerome Powell signalled a possible rate cut, saying the central bank’s policy stance “may warrant adjustment” given shifting risks.
In addition, President Donald Trump’s move to remove Fed Governor Lisa Cook has added to gold’s appeal, raising concerns over the Fed’s independence.
Norway’s government announced on Tuesday that Russia had breached its airspace three times in 2025, though it remained uncertain whether the inciden...
Norway has joined in the condemnation of recent incidents of Russian violation of allied airspaces with the latest being Denmark and at the same time ...
Russia’s special presidential envoy for Afghanistan has warned that any return by the United States to Afghan soil would end in “disaster” for W...
President of Kazakhstan Kassym-Jomart Tokayev is currently on a working visit to New York, where he has held a series of bilateral meetings with repre...
Norway’s government announced on Tuesday that Russia had breached its airspace three times in 2025, though it remained uncertain whether the incidents were intentional or caused by navigational mistakes.
Norway has joined in the condemnation of recent incidents of Russian violation of allied airspaces with the latest being Denmark and at the same time revealed that its airspace was violated three times by Russia over spring and summer this year.
On Tuesday, NATO denounced Russia for breaching Estonian airspace last week, warning it would employ “all necessary military and non-military tools” in its defence against what it described as “a pattern of increasingly irresponsible behaviour” by Moscow.
President of Kazakhstan Kassym-Jomart Tokayev is currently on a working visit to New York, where he has held a series of bilateral meetings with representatives of major businesses and international organisations.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
Semiconductor shares from Asia to Europe rose sharply on Tuesday after Nvidia unveiled a $100 billion partnership with OpenAI to build massive Artificial Intelligence (AI) systems requiring millions of processors.
Porsche (P911_p.DE) saw its shares fall by 7.5% by late morning on Monday after the carmaker scaled back its electric vehicle rollout and lowered its forecast, following a costly strategic reversal driven by weak demand.
Germany's parliament approved on Thursday the nation's first annual budget since sweeping reforms to loosen fiscal rules were passed earlier this year, securing record investments to revive the economy while committing to an increase in defence spending.
European shares nudged up on Thursday after the U.S. Federal Reserve lowered borrowing costs for the first time since December, while shares of SIG plummeted after the Swiss-based company issued a profit warning.
Meta Platforms on Wednesday launched its first consumer-ready smart glasses with a built-in display, seeking to extend the momentum of its Ray-Ban line, one of the early consumer hits of the artificial intelligence (AI) era.
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