Spot gold prices soared to a record $4,200.11 per ounce on October 15, 2025, reflecting a 59% increase since the start of the year. The surge is attributed to growing expectations of U.S. Federal Reserve rate cuts, robust central bank purchases, and significant inflows into gold exchange-traded funds. Concurrently, U.S. December gold futures advanced to $4,218.0, with silver, platinum, and palladium also experiencing gains as investors seek safe-haven assets amid geopolitical tensions.