Gold Near Record on Fed Cut Bets, Data Delay

Gold and silver have surged to multi‑year and record highs — gold topping $4,000 and briefly near $4,380 — pushing retail prices to levels that have created long lines at some coin shops. The rally is being driven by safe‑haven demand, heavy ETF and central bank inflows, and widespread bets on further U.S. Federal Reserve interest‑rate cuts, alongside broader geopolitical and fiscal concerns including an extended U.S. government shutdown and trade tensions with China. Volatility rose after a sharp profit‑taking selloff when President Trump signaled a softer stance on China, briefly strengthening the dollar and yields, but prices have largely stabilized. Market participants are closely watching U.S. CPI data, which was delayed from Friday to later this week, and an upcoming Fed decision, as well as renewed U.S.-China trade talks, any of which could swing sentiment. The bullion upswing has lifted shares of major gold miners such as Newmont and Barrick and driven SPDR Gold Trust holdings higher, even as some other precious metals lagged.