Gold prices briefly surged to a record high, exceeding $3,508 an ounce, driven by anticipation of US interest-rate cuts and anxieties surrounding the Federal Reserve’s future. This rally, fueled by expectations of a subdued labor market and subsequent rate reductions, has significantly boosted gold’s appeal as a haven asset.
Asian stocks tread water at the start of Fed week
Asian stocks opened cautiously as traders assessed strained China-Japan relations and upcoming central bank decisions. Investor caution grew regarding the AI rally’s sustainability, with markets