Gold Rises Above $4,100: A Consequence of Waller’s Rate Cut Endorsement – Yahoo Finance

In an unanticipated turn of events today, the gold price crossed the $4,100 per ounce mark. This jump came directly after Waller, the Federal Reserve’s governor, publicly endorsed a rate cut. This move was widely regarded as a tool to ignite economic and market sentiment. However, investors sought safe-haven assets triggering an increase in gold price. Gold has hence emerged as a powerful tool for hedging against the impact of such circuitous economic developments. Read More