Gold Reaches Highest Level in Three Weeks

On Tuesday, gold continued its upward trend, reaching its highest point in nearly three weeks. This surge is fueled by growing expectations that the Federal Reserve may implement another interest rate cut in December.

Such a move could further bolster the attraction of gold, a recognized safe haven asset. In the spot market, gold prices rose by 0.4 percent, reaching $4131.83 per ounce by 00:53 GMT, marking the highest level since October 24.

Additionally, U.S. gold futures for December delivery saw a similar increase, climbing 0.4 percent to $4138.70 per ounce. These developments underscore a positive outlook for gold in the current economic climate.