Gold Futures Soar to New Heights Amid Anticipation of Federal Reserve Rate Cut

In a historic week for the precious metals market, gold futures have shattered records, breaching the $2600 per troy ounce threshold for the first time. As of 5 PM EDT, the most active December contract settled at $, marking a net gain of $19 or % for the day. This surge represents the second consecutive day of record-breaking highs, with the intraday peak reaching an unprecedented $. The remarkable ascent of gold prices comes on the heels of yesterday’s robust $47 gain, the most substantial single-day increase since August 16. This week’s dramatic rise will undoubtedly be etched in financial history as the moment gold futures crossed the $2600 milestone. As the dust settles on this landmark event, market participants are now pivoting their attention to next week’s Federal Open Market Committee (FOMC) meeting. This gathering is poised to be one of the year’s most consequential, with widespread anticipation of the first interest rate