Daily News Nuggets | September 8th, 2025 — Here’s what you need to know about today’s most important economic and precious metals news:
Gold Smashes Through $3,600 as Critical Fed Week Begins
Gold surged to an all-time high on Monday, breaking above $3,600 as investors increasingly price in lower interest rates ahead of a pivotal week for the Federal Reserve. Spot gold peaked at $3,636 per ounce, extending a remarkable year-to-date rally that has pushed prices roughly 38% higher.
Several forces are combining to lift the market: expectations of Fed rate cuts, heavy central bank purchases, and lingering economic uncertainty. The rally is not confined to U.S. markets. In Canada, gold exceeded CAD$5,000 per ounce — a notable milestone given the Bank of Canada’s lack of gold reserves.
Analysts see further upside. UBS strategist Giovanni Staunovo has projected gold could reach $3,700 by mid-2026, signaling that the current bull market may still have momentum.
Jobs Data Bombshell Could Reshape Fed Plans
Investors and policymakers are bracing for a major labor-market revision expected Tuesday. Preliminary reports suggest the U.S. may have added as many as 800,000 fewer jobs through March than previously reported, and some economists warn the downward adjustment could approach one million positions.
The implications are significant. If the revision confirms the labor market weakened earlier than thought, it strengthens arguments that the Fed should move more quickly toward policy easing. Last Friday’s weak payrolls print — just 22,000 jobs added in August — already signaled a cooling labor market. A sizable historical revision would add pressure on the Fed to consider a more aggressive rate-cut path at its September 17 meeting.
Inflation Threatens to Complicate Rate Cut Narrative
Adding complexity to the decision is this week’s inflation report, which could complicate the Fed’s plans. Economists expect consumer prices rose modestly in August, with monthly gains of around 0.3% and year-over-year inflation near 2.9%, both slightly above July’s pace.
That dynamic leaves the Fed caught between a weakening jobs picture that argues for easier policy and persistent inflationary pressures that argue for caution. Services inflation in particular remains sticky, keeping core inflation above the central bank’s 2% objective and narrowing the policymakers’ room for maneuver.
Argentine Voters Deliver Stinging Rebuke to Milei
President Javier Milei suffered a clear electoral setback in Buenos Aires province, where his party won just 34% of the vote and lost by roughly 13 points to the Peronist opposition. The result marks Milei’s first major electoral test since taking office and reflects growing public unease with the speed and severity of his economic reforms.
Milei inherited hyperinflation exceeding 200% annually and has since reduced monthly inflation from extreme levels to below 3% in recent months. Still, sharp austerity measures and high poverty — above 38% — have left many voters impatient. Milei acknowledged the defeat and framed it as a setback the government must accept responsibly. The loss complicates his agenda ahead of October’s congressional midterms, where his party needs to expand a small legislative presence to push reforms forward.
Nasdaq Bets Big on Blockchain Future
Nasdaq has formally requested regulatory approval to list and trade tokenized versions of stocks and ETFs alongside conventional securities, a move that would represent the first time a major U.S. exchange embraces blockchain-based asset representations at scale.
The timing follows a broader shift in regulatory tone: U.S. authorities have signaled increased openness to crypto-related markets under established frameworks. Nasdaq emphasizes tokenized securities would operate within existing laws and regulations, not around them. Proponents say tokenization promises faster settlement times, improved liquidity and operational efficiencies — reasons Wall Street is increasingly exploring blockchain as a tool to modernize market infrastructure.