US Treasury Secretary Rarely Calls for 150 Basis Points Rate Cut, Gold Surges in Response, US Dollar Index Under Pressure.

According to the Wisdom Financial APP, after US Treasury Secretary Besent urged the Federal Reserve to lower borrowing costs, traders increased their bets on a rate cut by the Federal Reserve, causing gold prices to rise. As of press time, the price of gold futures rose by 0.16% to $3413.62 per ounce; the US dollar index fell by 0.11% to 97.73.