Gold Rises to Fresh Record With Fed Seen Cutting Rates This Week

Gold rose to a new a record high as traders geared up for an anticipated easing of the US Federal Reserve’s monetary policy this week and looked for clues on further rate cuts this year.

Bullion traded above $3,682 an ounce on Monday, after gaining for four consecutive weeks. Investors see a quarter-point cut this week, following signs of labor market weakness. Swaps also price in at least another reduction before the end of the year, with a high probability of a third one.

That expectation has driven Treasury yields to the lowest level in months and weakened the dollar, ...