[Gold Price Surges Past $4,000 Per Ounce, Year-End Demand Season May Drive Prices Higher]
Gold prices have surpassed $4,000 per ounce, nearing historic highs. The traditional year-end demand season, including Asia's wedding season and the overlap with Christmas and New Year holidays in Europe and the U.S., has significantly boosted physical gold demand. Additionally, central banks around the world continue to purchase gold to increase foreign exchange reserves, and capital inflows into gold ETFs have also provided support for gold prices. Bart Melek, Head of Commodity Strategy at TD Securities, pointed out that the possibility of recent interest rate cuts in the U.S. further benefits gold bulls. Currently, the historical highs for New York gold futures and international spot gold are $4,398 and $4,381, respectively.