Fed Cuts 0.5%, Gold Makes a New High, and Dollar Confidence Collapses PREVIEW by davefairtex Gold prices hit new highs amid declining confidence in the USD, as capital flows shift away from the dollar. The Fed’s rate cut sparks concerns over potential election interference. Fed Cuts 0.5%, Gold Makes a New High, and Dollar Confidence Collapses PREVIEW by davefairtex Gold prices hit new highs amid declining confidence in the USD, as capital flows shift away from the dollar. The Fed’s rate cut sparks concerns over potential election interference.