Gold Records Fourth Straight Monthly Gain

Gold futures settled near $4,240 per ounce to end last week, closing out their fourth straight month of gains and bringing the yellow metal back within shouting distance of its record high amid firming expectations for a December rate cut, Ines Ferré reported for Yahoo Finance.

This year, the price of gold has risen more than 60%.

Dovish commentary from Federal Reserve officials has raised the odds that policymakers will cut interest rates by at least 25 basis points next month.

Since gold doesn’t produce income, its relative attractiveness improves when interest rates fall. Gold hit a record high of $4,336 per ounce on Oct. 20 before falling about 10% through the first week of November.

This year, the price of gold has risen more than 60%.

A weakening US dollar and expectations of continued fiscal spending and “run-it-hot” government policies heading into 2026 are also expected to support bullion prices.

“We have a tremendous deficit … we also have a tremendous amount of government spending, and on top of that, we have a tremendous amount of central bank buying,” Michele Schneider, MarketGauge.com chief strategist, told Yahoo Finance.

On Thanksgiving, President Trump said he aims to end the income tax, citing revenue expected from his tariff policy.