Gold Rises Near Record as US PPI Underpins Fed Rate Cut Bets

Group 1 - Gold prices have advanced, nearing record levels as traders anticipate US inflation data and potential interest rate cuts by the Federal Reserve [1][2] - Bullion has increased by 0.6% to approximately $3,650 per ounce, following a significant downward revision of payroll worker numbers by 911,000 [2] - Central banks have shown a strong appetite for gold, with notable increases in gold holdings reported by the Czech authorities and the People's Bank of China [7] Group 2 - Gold has rallied nearly 40% this year, driven by central bank purchases, geopolitical uncertainties, and concerns over US tariffs impacting the global economy [4] - Analysts from ANZ Group Holdings have raised their year-end gold price forecast by $200 to $3,800, citing expected growth in gold holdings in major markets like China and India [5] - The ongoing influence of geopolitical events, including President Trump's tariff discussions and military actions in the Middle East, has contributed to gold's appeal as a safe-haven asset [3][6]