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Gold futures are up, rising $33.90 to settle at $2,746.40, achieving the third-highest close in history and extending gains for a third straight session.
The precious metal has shown consistent momentum, advancing in seven of the past eight sessions and accumulating a three-day gain of 2.73%.
This rally has been fueled by moderating U.S. core inflation data and growing expectations for looser Federal Reserve monetary policy in 2025.
Since its 52-week low in February 2024, gold has surged nearly 38%, though it remains just 1.51% below its record high of $2,788.50 set in October 2024.
While geopolitical tensions have historically supported gold’s safe-haven appeal, market analysts note that recent decreasing tensions in the Middle East could impact this dynamic.
