Hot Commodities: Gold breaks past $3600; Fed cut, safe haven

Gold smashed through the $3600 mark in Asian trade on Wednesday, shining as investors piled into safe havens on growing expectations of a Fed rate cut. Hints from Chair Powell have fueled hopes of easing this month, with all eyes now on Friday?s US jobs data for confirmation. Political drama is adding fuel to the rally, as Trump?s clash with the Fed and fresh tariff battles spark concerns over central bank independence and trade uncertainty. Budget worries and dollar diversification are further boosting demand for bullion. Gold has also gained about 4% in August, its best monthly performance since April, adding to bullish momentum. On the domestic front, MCX October gold futures climbed 0.5% to ₹106285 per 10 grams.

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