Sri Lanka, Dec. 24 -- Gold prices hit record highs on Monday, extending a historic rally fueled by U.S. rate-cut hopes and rising global risks. The precious metal surged beyond the US$ 4,400-an-ounce level as investors leaned heavily into safe-haven assets. Expectations that the Federal Reserve will deliver more interest-rate cuts next year have added fresh momentum.

At the same time, geopolitical tensions and waning confidence in Government debt are reshaping global capital flows.

Gold futures in New York jumped 1.3% to around US$ 4,445 an ounce in early European trading. Spot prices followed closely, rising to about US$ 4,389. Gold is now up roughly 68% in 2025. That puts it on course for its strongest annual performance since the inf...