Gold prices hit a new record on Monday, with spot gold rising 0.7% to $3,709.29 per ounce after touching an intraday peak of $3,711.55. U.S. gold futures for December delivery gained 1% to $3,743.40. The advance follows last week’s 25‑basis‑point rate cut by the U.S. Federal Reserve and growing expectations for two additional 25‑basis‑point cuts in October and December. Analysts said central bank purchases, geopolitical uncertainty, and a lower interest‑rate outlook are supporting demand for the metal. Gold is now up nearly 42% in 2025. Other precious metals also firmed: silver rose 1.3% to $43.64 per ounce, near its highest level since 2011; platinum increased 1.2% to $1,420.48; and palladium climbed 1.2% to $1,163.24. Traders are watching U.S. inflation data due this week and scheduled remarks from Fed officials, including Chair Jerome Powell, for signals on the pace of further easing. The rally in gold, often used as a hedge against economic and market risks, coincides with persistent concerns over global growth and currency volatility. Elevated prices in precious metals have led to gains for miners exposed to gold and silver, while broader metals markets continue to track the dollar’s trajectory and interest‑rate expectations. The latest move underscores how shifting monetary policy and official‑sector demand continue to shape pricing across the precious metals complex.