Gold Rises to Another Record as Buying Momentum Continues

09:21 AM EDT, 10/16/2025 (MT Newswires) -- Gold continued to push to fresh record highs early on Thursday, rising for a fifth session on hopes for falling interest rates amid a slowing global economy and momentum buying. Gold for December delivery was last seen up $59.30 to US$4,260.90 per ounce, rising off Wednesday's record.

The price of the metal has risen 13% in the past month and by 23% since Aug.22, when chair Jerome Powell said the Federal Reserve will likely move interest rates lower. However, an uncertain U.S. economy amid a government shutdown and the burden of Trump Administration tariffs is also offering support.

"The record story for gold continues through the amplification of growing uncertainty (most recently driven by the ongoing US government shutdown and the re-escalation of US-China trade worries) and still supportive macro drivers (for example the market expecting further rate cuts). Gold reaching record prices is nothing new, having set nearly 50 record levels already (the latest being yesterday), and while different factors have layered in throughout the year, the overarching story has really been more of the same," Christopher Louney, a commodities strategist at RBC Capital Markets, wrote.

A weaker dollar is also supporting the precious metal. The ICE dollar index was last seen down 0.23 points to 98.56. Treasury yields were mostly steady, with the U.S. two-year note last seen paying 3.506%, down 0.4 basis points, while the yield on the 10-year note was up 0.5 points to 4.038%.

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