1 December 2023
Gold prices hit a seven-month high at $2,060.69 per ounce, and U.S. gold futures rose to $2,080.60, following Federal Reserve Chair Jerome Powell’s comments hinting at possible U.S. monetary policy easing. These remarks led to increased expectations of an early rate cut next year. Meanwhile, silver prices also climbed, reaching a six-month high of $25.39 per ounce. Both gold and silver benefited from lower interest rates and a weaker dollar.