Gold Surges on Fed Rate Cut Hopes, Silver Gains on Critical Minerals List

Gold prices surge as weak US employment data hints at potential interest rate cuts, boosting its safe-haven appeal. Despite recent losses, gold is on track for its best yearly performance since 1979, supported by lower US rates, increased investments, and central bank purchases. Meanwhile, the ongoing government shutdown clouds economic data, making private company reports crucial. Silver also gains as US adds it to critical minerals list, potentially impacting broader metals market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.