Gold is steady, but silver has blasted to a new record high above $62/oz, just as the US Federal Reserve is expected to cut interest rates.

Welcome back to GoldBank Insider, where we turn precious metals headlines into clear, practical insights for everyday investors.

Gold first:

• Spot gold is almost unchanged, sitting just above $4,200/oz, and futures are only fractionally higher. The market is basically holding its breath ahead of the Fed’s rate decision later today.
• Traders already expect a 25 bps rate cut, so the real focus is on the tone: does the Fed signal a gentle, gradual easing cycle, or hint that this might be a one-and-done move?

Lower rates usually support gold because:

1. The opportunity cost of holding a non-yielding asset falls.
2. A softer dollar tends to push metal  ...