Could Gold Prices Break $4,000 Next?
Investors bet on a Fed rate cut as bullion surges past $3,670, cementing gold’s role as the ultimate safe haven.

Gold touched yet another all-time high on Tuesday, fueled by growing momentum that the Federal Reserve is poised to cut interest rates. Spot gold surged to $3,673.49 per ounce, eclipsing its prior record of $3,636.71 set only a day earlier. Although prices cooled slightly to $3,646.64 by midday in New York, the market’s trajectory remains firmly upward. Futures mirrored the rally, spiking to $3,715.20 before easing back toward the $3,680 mark.
The milestone caps a powerful run for the precious metal, which has now gained nearly 40% since the start of 2025. From central bank stockpiling to heightened geopolitical risks, gold’s status as a safe haven has rarely looked more secure.
Fed Policy in Focus
At the heart of the latest surge lies speculation that the Federal Reserve will finally pivot. A string of softer US economic data has sharpened expectations that policymakers could deliver a rate cut as early as next week’s FOMC meeting. Traders are overwhelmingly betting on a 25-basis-point cut, with whispers that a more aggressive 50-point move could be on the table.
Bart Melek, head of commodity strategy at TD Securities, underscored the stakes. “This rally is largely driven by expectations that the Federal Reserve will begin cutting rates, potentially as early as September,” he said.
