Powell Blinks: Wall Street and Main Street Now Betting Big on Gold as Rate Cuts Loom

For the past four months, gold’s been bouncing around in a trading range like a caged animal, waiting for the right moment to break free. On Friday, we may have just seen the spark. At the Federal Reserve’s annual symposium, Chair Jerome Powell admitted what many of us have known all along: the so-called “restrictive policy” isn’t sustainable. Inflation is still rising, growth is slowing, and the Fed has backed itself into a corner. Powell all but confirmed that a rate cut could be coming as early as September. His exact words: “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Translation? They’ve lost control, and their only tool…