Gold Scales New Peaks on Trade Tensions, Rate-Cut Hopes
Gold prices hit a fresh record, surpassing $4,100 a troy ounce as a flare-up in U.S.-China trade tensions and prospects of further U.S. interest-rate cuts drive up demand.
In afternoon trading, futures in New York climb 2.9% to $4,116.20 a troy ounce, while spot gold rises 1% to $4,016.68 an ounce.
Bank of America raised its gold price forecast to $4,400 an ounce on average for 2026, while Societe Generale analysts say they now see prices reaching $5,000 an ounce by the end of next year.