Commodities
Gold Stocks Shine as Fed Hike Expectations Fade
U.S. gold equities and exchange-traded funds (ETFs) are experiencing their strongest weekly performance in over a year, as spot gold prices surge past $4,250 per ounce.
The rally is driven by shifting expectations around Federal Reserve monetary policy, persistent central bank accumulation, and renewed investor appetite through physically backed funds.
Recent U.S. non-farm payrolls data showed a surprise dip in job creation, giving financial markets reason to price in a more dovish stance from the Fed.
The People's Bank of China (PBoC) led central bank gold purchases in July, expanding its official gold reserves by 20 metric tons - its largest single-month net addition since October 2023.