Gold prices continued their upward trajectory, reaching a new record high, supported by a weaker U.S. dollar and falling bond yields, amid growing expectations that the U.S. Federal Reserve (the central bank) will cut interest rates this month.
Spot gold rose by 0.5 percent to $3,654.98 per ounce, while U.S. gold futures for December delivery climbed 0.4 percent to $3,694.40.
There are possibilities that gold prices could increase further if the Federal Reserve implements repeated rate cuts as anticipated by the market.
