Commodities

Gold Climbs to Fresh Record After Bets on Fed Rate Cuts Surge

Both gold and silver have more than doubled over the past three years.
Photographer: Milan Jaros/Bloomberg

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By Jason Scott and Yihui Xie

September 7, 2025 at 10:54 PM UTC

Updated on

September 8, 2025 at 3:39 PM UTC

Gold hit a fresh record on Monday, extending gains after Friday’s unexpectedly weak US employment report that saw wagers increase on the Federal Reserve cutting interest rates.

Bullion rose as much as 1.7% to more than $3,646, eclipsing the previous record set Friday after a pivotal US payrolls report showed a slowdown in hiring, while unemployment increased to the highest level since 2021.