Traders increase bets on Fed rate cuts, Trump win

The price of gold has once again reached a historic high due to the market's growing hope for a rate cut by the Federal Reserve, and some traders have increased their bets on Trump's re-election as U.S. president. Spot gold briefly touched $2,451.44 per ounce, breaking the previous high set at the end of May. Signs of slowing U.S. inflation have fueled speculation that the Federal Reserve will soon begin cutting rates. Investors in various markets are also weighing the probability of Trump returning to the White House, as his momentum has been "unstoppable" following the weekend's assassination attempt and the dismissal of criminal charges.