Gold settles higher as Fed meeting kicks off

Gold prices rise to an all-time high on Tuesday as traders gear up for rate cuts by the US Federal Reserve

Gold prices closed higher on Tuesday, supported by optimism that the Federal Reserve will resume cutting interest rates at its two-day policy meeting concluding Wednesday.

December gold futures rose 0.16%, or $6.10, to settle at $3,725.10 per ounce.

Investors broadly expect the Fed to lower its benchmark rate by 25 basis points, after keeping it steady throughout 2025 within a 4.25%–4.50% range.

Gold also drew additional support from a weaker US dollar, as the dollar index hit a two-month low on expectations of monetary easing.