Gold clinches fourth straight monthly gain, closes in on record high as markets solidify rate cut bets

Gold (GC=F) futures settled near $4,240 per ounce on Friday, closing out their fourth straight month of gains and bringing the yellow metal back within shouting distance of its record high on firming expectations for a December rate cut. Dovish commentary from Federal Reserve officials has raised the odds that policymakers will decide to cut interest rates by at least 25 basis points next month. Since gold doesn’t produce income, its relative attractiveness improves when interest rates fall. Gold hit a r ...