Gold price gains against the Swiss franc highlight its potential when the Fed starts cutting rates

- The Federal Reserve’s signal that it still sees the potential for three rate cuts this year, even as inflation remains above its 2% target, has helped propel gold prices to new record highs. - Gold prices are just modestly higher in midday U.S. trading Thursday after scoring strong gains and hitting a record high of $2,225.30, basis April Comex futures. Silver prices are slightly down after hitting a 3.5-month high overnight.

- Lithium futures are trading higher, and Asian battery manufacturers are saying demand will surprise to the upside, says Francis MacDonald, CEO and director of Li-FT Power .As the Bitcoin halving approaches, Kitco Crypto spoke with Stronghold Digital Mining CEO Greg Beard to get a boots-on-the-ground perspective of how miners are preparing for the reduction in revenue.

- The disconnect between gold prices and gold equities are explained by central bank precious metal purchases, said Wheaton Precious Metals CEO Randy Smallwood. - After hitting all-time highs overnight, the gold market is attracting some technical selling following mixed economic data.Thursday, S&P Global said its preliminary Purchasing Managers Index for the manufacturing sector rose to 52.5, up from February’s reading of 52.2.

Source: Financial Digest (financialdigest.net)

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