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2025-10-10 21:12:34
Gold Rises for Eight Consecutive Weeks, Driving the Market's Eighth Consecutive Week, Driven by Safe-Having and Rate Cut Expectations. ⑴ Spot gold rose 0.3% to $3,985.60 per ounce on Friday, bringing its weekly gain to 2.6%, marking its eighth consecutive week of gains. ⑵ Gold prices hit a record high of $4,059.05 on Wednesday, supported by expectations of a Fed rate cut and geopolitical risks. ⑶ Silver rose 1.7% to $49.95, slightly down from its previous record high of $51.22, bringing its year-to-date gain to 73%. ⑷ Market expectations of a 25 basis point rate cut by the Federal Reserve in October and December led to a 0.3% drop in the US dollar index, boosting the appeal of precious metals. 5. Silver is trading in backwardation, indicating that physical demand continues to outstrip paper supply, and fundamentals support prices breaking through the $50 mark. 6. Platinum rose 0.6% to $1,628.75, and palladium surged 3.8% to $1,464.51. Both metals recorded weekly gains.
