Yahoo Finance: Gold on Pace for Weekly Win as Momentum Drives Historic 2025 Rally
Article by Ines Ferré in Yahoo Finance
Gold was on pace to eke out a weekly win on Friday as investor bets on a Federal Reserve rate cut next week continued to rise.
Gold futures hovered around $4,240, on track for a less than 1% increase this week and more than $100 off its October record high.
Investors overwhelmingly expect the Federal Reserve to cut the fed funds rate by 25 basis points next week. The expectation has put pressure on the US dollar index, lifting commodity prices invoiced in greenback currency.
Gold also tends to rise as interest rates fall and investors move away from interest-yielding assets like bonds.
The precious metal has surpassed more than 50 all-time highs this year, surging more than 60% year to date, making it a top asset for 2025, behind silver, which is up roughly 100% year to date.
By comparison, the S&P 500 has gained about 17% during the same period, while bitcoin is down roughly 2%.
According to a World Gold Council report, "momentum has played a larger role than in previous years, which is not surprising considering ......