Gold prices rose to around $4,190 per ounce on Friday, approaching a five-week high and on track for a fourth consecutive monthly gain, as investors grew more confident of a December Federal Reserve rate cut. A series of remarks from Fed officials supporting further monetary easing, along with delayed economic data showing weakness, has reinforced expectations. Additionally, Kevin Hassett, seen as a frontrunner to replace Jerome Powell, has echoed President Trump’s support for a rate reduction. Markets now price in more than an 80% probability of a 25 bps cut next month, up sharply from 30% a week ago. Investors are also pricing in three additional cuts by the end of 2026. The metal is poised for its strongest annual performance since 1979, supported by heavy central-bank buying and strong non-sovereign inflows into ETFs.