Gold Scales New Peaks on Trade Tensions, Rate-Cut Hopes

Core Viewpoint - Gold prices have reached a new record, exceeding $4,100 per troy ounce, driven by escalating U.S.-China trade tensions and expectations of further U.S. interest rate cuts [1]. Group 1: Gold Price Movement - In afternoon trading, New York futures increased by 2.9% to $4,116.20 per troy ounce, while spot gold rose by 1% to $4,016.68 per ounce [1]. Group 2: Future Price Forecasts - Bank of America has raised its gold price forecast to an average of $4,400 per ounce for 2026 [2]. - Analysts from Societe Generale predict that gold prices could reach $5,000 per ounce by the end of next year [2].