Gold Prices Reach Highest Level in Two Weeks
Gold prices surged on Monday to their highest level in two weeks, supported by market expectations of a potential U.S. Federal Reserve interest rate cut in December.
December gold futures rose 1.71% to $4,078.30 per ounce, while spot gold increased 1.75% to $4,071.28 per ounce. Tim Wotter, chief market analyst at KCM Trade, said the precious metal is experiencing strong demand from traders early in the week, despite the Federal Reserve reducing the likelihood of a rate cut.
Data from last week showed that the U.S. economy lost jobs in October, particularly in government and retail sectors, while cost-cutting measures and the adoption of artificial intelligence by companies contributed to layoffs. A Friday survey also indicated that U.S. consumer confidence fell to its lowest level in roughly three and a half years in early November 2025, amid concerns about the economic impact of the longest government shutdown in history.
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