Gold prices surged to a historic high on Monday, buoyed by investor optimism that the US Federal Reserve will continue to ease interest rates next year.
The precious metal climbed to $4,383.76 in early trading, fueled by recent data indicating further weakness in the US labour market and easing inflationary pressures.
It also gives the central bank room for additional monetary policy easing.
Monday’s gain surpassed the previous record of $4,381.52 reached in October, cementing gold’s status as a preferred safe-haven amid expectations of continued rate cuts.
