On Monday (Dec 2), gold prices hit a two-week high, rising over 1%. This increase was driven by China's central bank resuming gold purchases after a six-month pause, as well as growing market expectations of a rate cut by the Federal Reserve next week, which boosted bullish sentiment. Strong central bank buying has been one of the key factors supporting gold's price surge this year, alongside loose monetary policies and geopolitical tensions.

Gold Prices Hit Two-Week High Driven by China's Resumed Gold Purchases and Fed Rate Cut Expectations

Dec 10 2024