Gold Soars to 7-Month High Amid Fed Rate Speculation and Geopolitical Tensions

Gold prices reached a six-month high as comments from Federal Reserve officials increased expectations of interest rate cuts next year. The dollar and Treasury yields remained under pressure after a hawkish Fed official suggested that interest rates may not need to rise again. Lower borrowing costs are typically positive for gold, which has rallied about 13% since early October. Investors are closely watching US economic data for further clues on the direction of interest rates, while traders are positioning for aggressive Fed policy easing next year. Spot gold added 0.1% to $2,043.40 an ounce, nearing its all-time high.