Gold prices edged up to around $3,690 per ounce on Monday, hovering near record levels, as investors looked ahead to key US inflation data and comments from several Federal Reserve officials this week for further policy guidance. Last week, the Fed delivered its first rate cut of the year and signaled further reductions ahead as the labour market weakens. Markets currently imply two more 25-basis-point reductions this year—one in October and another in December—with expectations of continued monetary policy easing providing a major boost to bullion’s 40% surge so far this year. Gold has also been supported by safe-haven demand amid ongoing geopolitical tensions and concerns over the economic impact of President Donald Trump’s tariffs, alongside robust central bank buying and sustained ETF inflows.
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