Institution: Fed interest rate cut expectations rise, gold prices climb to over four-month high

Jin10 data September 1st report, on Monday, gold prices rose to a more than four-month high as market expectations for a Fed rate cut this month heated up, boosting the appeal of gold. Gold prices briefly touched $3470/ounce. Daily rise of about 0.4%. Data showed that U.S. consumer spending in July grew steadily, while core inflation rose due to import tariffs pushing up prices of some goods, but this data might not prevent the Fed from cutting rates this month. Additionally, U.S. PCE data increased by 0.2% month-on-month and 2.6% year-on-year, both in line with expectations. According to CME FedWatch, traders currently expect an 87% chance of the Fed cutting rates by 25 basis points later this month.