U.S. Fed policy and rising dollar spark new gold bull catalysts

Financial analysts highlighted three new catalysts that could boost gold prices, citing a surge in leveraged equity costs and a record seven‑year high in net long positions on the U.S. dollar. Data from the Commodity Futures Trading Commission showed leveraged fund short positions in SOFR futures more than doubled in two months, reflecting expectations of higher short‑term rates. Concurrently, the Federal Reserve is expected to raise its policy rate in September, with the latest Personal Consumption Expenditures index indicating inflation at a three‑year high. The combination of tighter financing conditions, strong dollar demand and potential Fed tightening is seen as a “gold bull” environment by commodity strategists at SaxoBank and other market observers.