Exaggerated 2% Increase in Gold Prices

Gold Prices on an Upward Trend

As investors find gold attractive, the precious metal rallied by approximately 2 percent on Wednesday. Expectations of Fed interest rate cuts and President Jerome Powell's speech were particularly notable in the markets.

Spot Prices and Futures

Gold's spot price, after declining to its lowest level since October 6, showed a 1.9 percent increase in the morning, reaching $4,028 per ounce.

On the other hand, U.S. December futures for gold surpassed $4,041 per ounce, marking a 1.5 percent rise. These developments indicate an increasing interest from investors in the metal market.