Fed Rate‑Cut Expectations Continue to Support Gold Gold’s resilience above $4,300 is largely tied to shifting expectations around the Federal Reserve’s policy path. The Fed delivered its third rate cut of the year last week and signalled the possibility of an additional reduction next year, a stance that has kept downward pressure on US yields and the dollar. Lower interest rates reduce the opportunity cost of holding non‑yielding assets like gold, making the metal more attractive to investors seeking safety and long‑term value preservation. This dynamic has been a key driver behind gold’s recent climb to multi‑week highs.