Gold prices have reached record highs as bets on the Federal Reserve cutting rates early have boosted gains. The possibility that interest rates have peaked is driving the surge in gold prices, with December futures settling at $2,071 an ounce. This surpasses the previous high of $2,051.50 reached in August 2020. Gold has seen consistent gains over the past eight weeks, resulting in an 11% increase for the year. This strong performance is on track to be the best since 2020 when the Covid-19 pandemic led to an economic crash and a 24% rise in the precious metal.
https://www.wsj.com/finance/commodities-futures/why-gold-prices-are-hitting-records-5772ec5f