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Gold Prices Surge as Rate Cut Expectations Rise

11/29/2025

33 6 Full Breakdown

Summary

Story summary

Gold prices are rising and nearing record highs as traders expect the Federal Reserve to cut rates in December.
After a trading outage at CME Group, February gold futures increased by $8.70 to $4,211 per ounce.
Spot gold climbed to $4,192.78 per ounce, a 4.6% gain for the month.
Investors price in an 86.9% chance of a rate cut, while the dollar index stays steady, encouraging demand for hard assets.

History

Historical Context

The Gold Standard Act of 1900 established gold as the exclusive backing for U.S. currency at a fixed rate of $20.67 per ounce, solidifying the gold standard in American monetary policy. This system persisted until 1933, when the Gold Reserve Act devalued the dollar to $35 per ounce, marking a significant shift in economic strategy that continues to influence global markets today.

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Story summary

Gold prices are rising and nearing record highs as traders expect the Federal Reserve to cut rates in December.
After a trading outage at CME Group, February gold futures increased by $8.70 to $4,211 per ounce.
Spot gold climbed to $4,192.78 per ounce, a 4.6% gain for the month.
Investors price in an 86.9% chance of a rate cut, while the dollar index stays steady, encouraging demand for hard assets.

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