Stock Market Update
29-Aug-25 14:00 ET
Gold jumps 1.2% to $3,516, up 2.9% on week amid Fed cut bets, weaker dollar
Dow -92.45
at 45544.45,
Nasdaq -250.65
at 21453.12,
S&P -41.24
at 6460.62
[BRIEFING.COM] With about two hours to go on Friday the tech-heavy Nasdaq Composite (-1.15%) is firmly today's worst-performing average, down about 250 points.
Gold futures settled $41.80 higher (+1.2%) at $3,516.10/oz, as markets grew increasingly comfortable that the Fed would soon initiate interest rate cuts, supported by U.S. inflation data that aligned with expectations. A softer dollar further reinforced demand, while political uncertainty clouding Fed independence added to safe-haven buying. As a result, gold closed the week with a gain of approximately 2.85%, marking one of its strongest weekly performances in recent periods.
Meanwhile, the U.S. Dollar Index is down about -0.1% to $97.78.
