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Gold trades near record highs on U.S. rate cut bets as silver reaches 14-year high
By Ishaan Arora and Brijesh Patel
Reuters
Monday, September 1, 2025
Gold hit a more than four-month high today to trade around $23 shy of all-time highs, buoyed by U.S. Federal Reserve rate cut bets and a softer dollar, while silver breached $40 per ounce for the first time since 2011.
Spot gold was up 0.9% at $3,477.56 per ounce by 9:37 a.m. ET, its highest since April 22 when it touched a record-high of $3,500.05. U.S. gold futures for December delivery gained 0.9% to $3,547.70.
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Spot silver jumped 2.6% to $40.69 per ounce, its highest since September 2011.
The U.S. markets are closed today for the Labor Day holiday.
The U.S. dollar was trading near its lowest since July 28 against a basket of currencies, making dollar-priced gold cheaper for overseas buyers.
"Gold, and especially silver, extended Friday's strong gains, supported by sticky U.S. inflation, weakening consumer sentiment, (expected) rate cuts ... and concerns over Fed independence," Saxo Bank's head of commodity strategy, Ole Hansen, said. ...
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