Gold futures climbed $33.90 to close at $2,746.40, marking the third-highest settlement on record and extending a winning streak to three consecutive sessions.
The metal has exhibited steady momentum, rising in seven of the last eight trading days and recording a three-day gain of 2.73%.
Investors have been encouraged by cooler U.S. core inflation readings and an increasing market consensus that the Federal Reserve may adopt looser monetary policy in 2025, both factors that typically support higher gold prices.
From its 52-week low in February 2024, gold has rallied nearly 38%, and it now sits only about 1.51% below its all-time high of $2,788.50 reached in October 2024.
Although geopolitical uncertainty historically underpins gold’s role as a safe-haven asset, analysts caution that easing tensions in the Middle East could reduce some of that tailwind. Still, the interplay of inflation expectations and anticipated Fed policy remains the dominant influence behind the recent advance.