On September 12th, spot gold prices continued to climb, reaching a new all-time high above $2,550. This surge followed the release of US inflation data that again exceeded expectations, coupled with a rise in initial jobless claims, reinforcing bets that the Federal Reserve will cut interest rates next week. Ole Hansen, Head of Commodity Strategy at Saxo Bank, commented, "A series of factors, including the European Central Bank's rate cut, a slight rise in initial jobless claims, and the PPI, have been sufficient to push gold prices to a new record high." Following the release of August CPI data on Wednesday, swap traders solidified their bets on a 25 basis point rate cut by the Fed at its upcoming meeting next week. Hansen added that for the gold market, the beginning of a rate-cutting cycle could provide increased support, regardless of the magnitude of the cut. Gold prices have risen by more than 20% this year, fueled by growing expectations that the Fed will soon initiate a rate-cutting cycle. Robust buying by central banks and strong demand in the over-the-counter market have also propelled gold higher. (Gold Ten)