According to global market data, gold surged above the $4,300 an ounce mark during trading on Friday, nearing the record levels recorded in October and heading towards new weekly gains, supported by expectations of an expansion in monetary easing policy in the United States in the coming period.

Additional support came from indicators of a slowdown in the U.S. labor market, where unemployment claims for the week ending December 6 rose more than expected, reaching their highest levels in over two months. This slowdown reinforces market conviction that the Federal Reserve may deliver two rate cuts in 2026, although the Fed's official forecasts indicate only one cut.

This week, the Fed executed its third rate cut of 25 basis points for the year, with a less hawkish tone than investors had anticipated. Jerome Powell clarified that additional rate hikes are not on the table at this stage, prompting traders to price in a more substantial easing cycle than indicated by official forecasts.

In a move to alleviate liquidity pressures in the short-term markets, the Fed announced its intention to purchase approximately $40 billion in short-term Treasury bills, a measure expected to curb the rise in short-term yields and support precious metal movements throughout the first quarter of next year.

Observers believe that the ongoing combination of:

• Labor market slowdown

• Declining short-term yields

• Rate cut expectations

will keep gold on a strong trajectory in the medium term, with the potential to test new peaks if economic pressures on the dollar continue.