Gold Surge Ended ?

At around $3,640 an ounce, gold kept going down after a two-day drop and was about to end a four-week gain on Friday. The Federal Reserve lowered its base rate for the first time since December, which opened the door for more cuts. The markets continued to look at the central bank’s view.
But officials were quick to point out that long-term inflation could dampen the impact of further budget cuts. The move was explained by Chair Jerome Powell as a measured response to a cooling labor market. He emphasized that the central bank will proceed slowly and does not want to speed the easing cycle. Despite this, gold’s price has increased by around 39% so far this year, reaching new highs on multiple occasions due to robust demand from central banks, continued geopolitical concerns, and predictions of Fed easing. Furthermore, official statistics show that Swiss gold exports to China increased by 254% from July to August.