Gold Jumps to Record as Traders Ramp up Bets on Fed Rate Pivot.

Gold prices have reached a new record high due to increasing hopes for Federal Reserve rate cuts and some traders betting on a second term for Donald Trump. The price of gold rose to $2,451.44 per ounce, surpassing the previous peak set in May. This surge in gold prices is driven by speculation of the central bank lowering interest rates in response to slowing inflation in the US. Additionally, investors are considering the possibility of Trump's return to the White House, as his candidacy gains momentum following a failed assassination attempt and the dismissal of a criminal case against him. [Extracted from the article]