Gold Futures Break Records On Safe-Haven Demand

Gold futures hit a fresh record high on Monday, according to The Wall Street Journal. Concerns over the Federal Reserve’s independence, expectations of interest rate cuts, and tariff uncertainty fueled safe-haven demand. Continuous gold futures rose 0.8% to $3,543.80 a troy ounce on the New York Mercantile Exchange, after touching $3,557.10 earlier in the session. Prices are up more than 34% year-to-date, bolstered by geopolitical tensions, Trump’s move to oust Fed Governor Lisa Cook, and renewed pressure on the U.S. dollar. Gold miners gained on the rally, with Hochschild Mining up 6.2%, Fresnillo up 1.7%, and Harmony Gold up 4.6%. Friday’s inflation data reinforced expectations of a September Fed rate cut, while Trump’s legal battle over tariffs and Cook’s removal deepened uncertainty, driving investors to bullion.