The Federal Reserve's interest rate cut pushed gold to a record high

The gold price soared to an all-time high on Monday, as investors flocked to gold to hedge last week as U.S. rate cuts and the Fed released signals of easing. The market is paying attention to the speeches of Fed officials and core U.S. PCE data. Analyst Tim Wattel said that gold has upward potential by the end of the year due to expectations of the Federal Reserve's interest rate cut, and central bank buying also supports momentum. He said that if US macro data continues to support the Fed's dovish stance, gold prices may hit a new high this week.