Gold just hit near-record territory following softer-than-anticipated inflation readings from the US economy. With price pressures coming in cooler than expected, traders are now pricing in an increased probability of additional federal rate cuts down the line. This shift in monetary expectations typically bolsters precious metals and other inflation hedges. The inflation miss has sparked renewed appetite for assets that historically perform well during easing cycles—particularly as markets recalibrate their interest-rate trajectory for the coming months.