Gold Gains as Traders Bolster Fed Cut Bets After Bessent Remarks

Gold advanced as traders reinforced bets of interest-rate cuts by the Federal Reserve after Treasury Secretary Scott Bessent urged the central bank to lower borrowing costs.

Bessent made his most explicit call yet for the Fed to execute a cycle of interest-rate cuts, suggesting the central bank’s benchmark ought to be at least 1.5 percentage points lower than it is now.