Gold Prices Climb for Third Session Amid Rate Cuts

According to TradingEconomics, gold prices rose to around $4,230 per ounce on Thursday, continuing their ascent for the third consecutive session and nearing the record figures recorded in October, following the Federal Reserve's expected rate cut.

Fed Chair Jerome Powell noted that the central bank is considering multiple options for the upcoming period, including slowing the pace of cuts or implementing small or large reductions, emphasizing there is no intention to raise rates. The Fed also maintained its forecast for one rate cut in 2026, although the policy statement reflected a greater degree of uncertainty regarding the timing and magnitude of future cuts.

Policymakers raised their economic growth forecasts while lowering inflation expectations for 2025 and 2026. Meanwhile, geopolitical tensions have supported investors' appetite for safe havens, particularly following the U.S. interception of a sanctioned Venezuelan tanker, alongside ongoing uncertainty about the peace process between Russia and Ukraine.