00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Gold hit a new record high on Wednesday, supported by expectations of imminent U.S.
00:07interest rate cuts and rising demand for safe haven assets amid equity and bond market sell-offs,
00:12according to Bloomberg. Prices climbed as much as 0.4% to $3,546.96 an ounce before easing,
00:21extending a 5% gain over the past week. Gold has risen more than a third in 2025,
00:26outpacing most commodities, as Fed Chair Jerome Powell signaled openness to rate cuts,
00:32and a softer labor market reinforced the case for easing.
00:36Friday's U.S. jobs report is expected to show a weakening labor market,
00:40bolstering the case for rate cuts that typically support gold prices.
00:44Gold and silver have more than doubled in three years as global risks fueled haven demand,
00:49while Trump's attacks on the Fed raised concerns about the central bank's independence.
00:53For all things money, visit Benzinga.com.
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