Gold Nears a New Historic Record

Attention is focused on the employment report expected on Tuesday and the inflation data to be released on Thursday. Last week, the Federal Reserve implemented its third rate cut of 25 basis points for the year. However, the decision was not unanimous, with three policymakers dissenting. Opinions remain divided on the extent of potential easing in 2026. Two Fed officials who voted against the cut stated on Friday that inflation remains too high and that it would have been "more prudent" to wait for additional data before reducing rates. Since the beginning of the year, gold has surged by over 60%, heading towards its best annual performance since 1979. This increase is supported by significant purchases from central banks, strong inflows into ETFs, a resurgence in safe-haven demand, and a repositioning of investors away from sovereign bonds and currencies.