Fed rate cut in September is a sure thing, and gold bulls are celebrating.

On July 16, according to the Jinshi data, as the remarks of the Federal Reserve officials consolidated people’s expectations of a rate cut in September in the United States, investors flocked to gold as a safe-haven asset, and Spot gold hit a historical high. Bart Melek, head of commodity strategy at TD Securities, said, “Now the likelihood of a rate cut by the Federal Reserve in September has reached 100%, and the remarks of Federal Reserve Chairman Powell yesterday are pushing the gold market to pump.” Phillip Streible, chief investment strategist at Blue Line Futures, also said, “We will see two rate cuts (within the year), one in September and one in December, as the expectation of a rate cut in September has risen to 100%.”