Posted 12/4/2023, 12:41:00 AM
Gold and Bitcoin Surge as Markets Bet on Easing Fed Policy
- Gold hits fresh record high, surging over 3% to $2,135 per ounce, while Bitcoin tops $40,000 amid bets on Fed interest rate cuts
- Markets rally Friday after Powell says policy is "well into restrictive territory" though more hikes possible if needed
- Traders now betting on 0.25% Fed rate cut in March, over 1 point of easing by end of 2024
- Upcoming economic data, including Australian growth, Chinese inflation, US jobs reports, to provide clues on global economy health
- Corporate news China Evergrande faces potential liquidation hearing Monday; Alaska Air to acquire Hawaiian Airlines in $1.9B deal