Gold hits all-time high, propelled by US rate-cut hopes, safe-haven appeal
Gold, a traditional safe-haven asset, is up 67% for the year, driven by geopolitical and trade tensions, robust central bank buying and hopes of lower interest rates next year
One-kilogram gold bullion bars lie on a surface at ABC Refinery in Sydney, Australia, October 13, 2025. Photo: REUTERS/Hollie Adams/File Photo
Spot gold surged to a record high of $4,383.73 per ounce on Monday, lifted by expectations of further US Federal Reserve rate cuts after last week's quarter-point reduction, sustained safe-haven demand, and a softer dollar.
Gold, a traditional safe-haven asset, is up 67% for the year, driven by geopolitical and trade tensions, robust central bank buying and hopes of lower interest rates next year, while a lower dollar index has also helped by making the precious metal less expensive for overseas buyers.
Investors are currently pricing in two US rate cuts in 2026, boosting non-yielding gold's appeal.
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