Gold prices rose above $3,800 per ounce on Tuesday for the first time in history, continuing a multi-month rally. On the Comex exchange, December futures reached $3,818.8 per ounce. Expectations of further easing of the Fed's monetary policy and weakening of the dollar contribute to price growth. Last week, the US regulator lowered the rate by 25 bps and signaled readiness for new steps in response to the weakening labor market. Investors expect the decline to continue at both remaining meetings in 2025. Stephen Miran, a member of the Board of Governors of the Federal Reserve, stressed that an excessively high rate carries risks for employment: «If short-term rates remain 2 percentage points above the norm, this will lead to unnecessary layoffs and increased unemployment.» Since the beginning of 2025, gold has already risen in price by 38%, continuing the strong growth of 2024 (+27%). The demand for the metal is supported by purchases by central banks, the soft policy of regulators, as well as ongoing geopolitical and economic uncertainty.
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