Gold prices have reached near record highs driven by investor anticipation of U.S. Federal Reserve rate cuts and ongoing geopolitical tensions. Gold hit a record high of $3,759.02 per ounce earlier this week, supported by a weaker U.S. dollar and expectations of multiple rate cuts in October and December, with a 90% probability of a 25-basis-point cut in October and a 75% chance of another in December, according to CME FedWatch. Investors are also reacting to geopolitical developments such as tariffs on gold imports by the U.S. and tensions with Russia, which have further bolstered gold’s appeal as a safe-haven asset. Meanwhile, Federal Reserve Chair Jerome Powell's cautious remarks on interest rate policies and upcoming U.S. inflation data have kept gold prices steady near the high, with spot gold trading at around $3,765.29 per ounce. Market analysts note that technical indicators suggest overbought conditions, leading to some profit-taking, but the medium and short-term outlook remains bullish. Gold futures for December delivery rose slightly to $3,798.50, while the U.S. dollar index declined, making gold more attractive to overseas investors. Silver and platinum prices also experienced gains, with silver nearing a 14-year high at $44.11 per ounce amid strong investment demand. Overall, gold remains supported by expectations of further rate cuts, inflation concerns, and geopolitical uncertainties.