On December 12, the spot gold price showed strong performance, rising by 0.48% in a single day, closing at around $4300 per ounce, with a daily high of $4353, marking a new price peak since October 21. During the same period, U.S. gold futures also rose by 0.4%, with the settlement price fixed at $4328.3.
The rise in gold prices is primarily driven by adjustments in the Federal Reserve's monetary policy. Last week, the Federal Reserve completed its third interest rate cut of 25 basis points this year. Although it stated that it needed to wait for more economic data to decide on the pace of future rate cuts, the market still has strong expectations for two rate cuts next year, providing strong support for gold prices.
As a traditional safe-haven asset, gold continues to attract capital inflows in an environment of increasing global uncertainty, significantly boosting bullish confidence. On December 15, in the early Asian market, spot gold entered a narrow trading range, currently trading around $4321.
