Gold prices approach record highs due to Fed interest rate cuts and signals of future cuts.

Gold prices are approaching record highs, boosted by the Federal Reserve's recent interest rate cut and signals of potential future cuts. The spot price rose 0.2% to $2,592.17 per ounce, marking a weekly gain of 0.6%. The gold market is optimistic about further increases, driven by ongoing economic uncertainty and shifts in central bank monetary policy.