The Fed's September rate cut is a foregone conclusion, and expectations of a rate cut have soared to 100%❗️

As the comments of Fed officials have solidified expectations of a September rate cut in the United States, investors have flocked to gold as a safe-haven asset, and spot gold has hit a record high.

Bart Melek, head of commodity strategy at TD Securities, said: "The probability of a September rate cut by the Fed is now 100%, and Fed Chairman Powell's comments yesterday are driving the gold market up."

Phillip Streible, chief investment strategist at Blue Line Futures, also said, "We will see two rate cuts (this year), one in September and one in December, because expectations for a September rate cut have risen to 100%."

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