FINANCE

Gold Breaks $4,400 as Fed Easing Bets Fuel Record Rally

Published: Dec. 23, 2025 4:16 p.m. GMT+8

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Global gold prices surged past the $4,400-per-ounce mark to a fresh record, capping a rally that has lifted the metal roughly 70% this year as investors bet on sustained U.S. monetary easing.

Spot gold touched an intraday high of about $4,438 an ounce Monday, while COMEX gold futures climbed to $4,471. In China, Shanghai gold futures also jumped.

The breakout follows a two-month consolidation period after gold’s previous surge in October, when prices rapidly breached the $4,100 and $4,200 thresholds before entering a sideways trading range.

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Explore the story in 30 seconds

Global gold prices exceeded $4,400 per ounce, marking a 70% surge in 2024.
The rally is attributed to expectations of Federal Reserve rate cuts and a leadership transition.
Speculative demand is prominent, volatility is expected, and the safe-haven role of gold has decreased.

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