Gold surged past the $4,000 per ounce mark on Wednesday, 29 October 2025, climbing 1.33% to $4,004.83.
This rebound comes after recent dips in the market, with bargain-hunting investors driving demand for the safe-haven metal.
Over the past month, gold has gained 3.78%, and it is now up a staggering 43.78% compared to the same time last year, highlighting its role as a hedge against economic uncertainty.
Analysts say the rally is fueled in part by expectations of monetary easing from the U.S. Federal Reserve.
Markets are pricing in a potential rate cut in December, with investors closely watching for signals from Fed Chair Jerome Powell on the central bank’s future policy direction. Lower interest rates tend to boost gold demand, as they reduce the opportunity cost of holding non-yielding assets like the metal.
Adding to the momentum is optimism around U.S.–China trade relations. President Donald Trump and Chinese President Xi Jinping are expected to finalize a framework deal designed to halt further U.S. tariffs and ease China’s restrictions on rare earth exports.
Such a development could ease some of the trade-related uncertainties that have weighed on global markets, though gold often benefits from any lingering geopolitical or economic concerns.
This month’s gains mark the third consecutive monthly rise for gold, with the metal up roughly 50% so far this year. Market watchers point to a combination of strong central bank buying, economic and geopolitical uncertainties, and concerns over currency debasement as key factors driving sustained interest in gold.
