Gold Climbs as Powell Paves Way for September Rate Cut

Gold prices are nearing record highs as Federal Reserve Chair Jerome Powell’s recent comments signal an imminent interest rate cut, possibly as soon as September. The softening dollar and expectations of lower interest rates are driving investors towards gold as a safe-haven asset. Central bank purchases and strong demand in key markets like India and China are further supporting gold’s rally. While silver prices are also rising, they have been somewhat constrained by sluggish global industrial production.