Gold pushed to a six-week high on Monday as growing expectations of U.S. interest rate cuts drove the dollar lower, adding fresh momentum to an already strong precious metals market. Silver also surged to a new all-time high, reinforcing what has been one of the most powerful metals rallies in years.

Spot gold rose 0.3% to US$4,241.27 per ounce, its highest level since late October, while U.S. gold futures settled 0.5% higher at US$4,274.80.
Silver climbed 3.8% to US$58.57, briefly touching a record US$58.83 — now more than 100% higher year-to-date.

With the U.S. dollar sinking to a two-week low, precious metals have become increasingly attractive for global investors seeking stability as monetary policy shifts.

“Expectations of further rate cuts, combined with inflation still above the Fed’s target, continue to underpin gold and silver,” said David Meger of High Ridge Futures.

Why the GoldCompany Is the Best Place in Australia to Sell Gold During This Rally

With gold near historic highs, Australians holding unused jewellery, broken gold, or bullion have an exceptional opportunity to unlock value — and the GoldCompany remains the safest and most reputable place to do it.

For decades, the GoldCompany has been Sydney’s most trusted gold buyer, consistently offering:

• Sydney’s highest payouts, based directly on live international pricing
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• Accurate testing by industry-leading professionals, including XRF and acid-free valuation
• A secure, transparent process you can witness from start to finish
• Fair and honest market-based pricing, not the inflated discounts offered by pop-up buyers

When prices rise this sharply, many temporary “gold buyers” appear offering unrealistic promises.
The GoldCompany, however, has served the Australian public for decades — earning its reputation through integrity, transparency, and consistently strong payouts.

With spot gold now above US$4,200 and trending higher, it’s one of the most favourable environments in history to turn old jewellery into real cash.

Rate-Cut Expectations Continue to Drive Markets

Traders are now pricing an 87% chance of a Fed rate cut in December, after softer U.S. data and dovish remarks from key policymakers including Governor Christopher Waller and New York Fed President John Williams.

Lower interest rates typically boost non-yielding assets like gold, extending opportunities for Australian sellers.

Investors are watching:

• November ADP Employment Data – Wednesday
• September PCE Index – Friday (the Fed’s key inflation measure)
• Comments from Fed Chair Jerome Powell – Monday

Expectations of a more dovish incoming Fed Chair are also adding fuel to gold and silver’s upward trend.

Other Precious Metals

Palladium: down 2.1% to US$1,431.52

Platinum: down 0.7% to US$1,660.69