Gold prices rose to a nearly seven-month high as a result of several factors affecting the market. The continued decline of the U.S. dollar and bond yields played a significant role in driving up gold prices. Investors grew more confident that the Federal Reserve would cut interest rates by the first half of next year, leading to increased demand for gold. The dollar index slid to a three-month low, marking its worst monthly performance in a year. A weaker dollar makes gold more affordable for investors holding other currencies. The decline in yields on 10-year Treasury notes also contributed to the rise in gold prices. Lower interest rates reduce the opportunity cost of holding non-interest-bearing assets, such as gold. Additional factors impacting the market include Australia’s easing inflation, which affirms the case for the country’s central bank to maintain unchanged interest rates. Meanwhile, a six-day truce between Hamas and Israel was expected to end with the release of more prisoners and hostages. Spot silver and platinum also experienced gains, while palladium rose. Overall, the rise in gold prices can be attributed to a combination of factors, including the weakening dollar, declining bond yields, market speculation of a rate cut by the Federal Reserve, and geopolitical developments.