Gold tops $4,500 for first time on rate cut bets, geopolitics

Gold prices broke past $4,500 in Asian trade Wednesday on optimism that the Federal Reserve will continue cutting interest rates next year, and amid rising tensions between the United States and Venezuela.

The precious metal hit a peak of $4,519.78 to extend a rally that has seen it surge more than 70 percent since the start of 2025.

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