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As a result, gold has gained about 64% so far this year. U.S. gold futures rose 0.6% to $4,354.00 per ounce.

On the first day of the new trading week, spot silver also climbed 0.8% to $62.48 per ounce. Silver has gained 115% year-to-date due to tightening inventories, strong industrial demand, and its inclusion on the U.S. critical minerals list.

The Fed cut interest rates by a quarter point on Wednesday in a rare split vote, but signaled a pause in further easing as officials assess the direction of the “somewhat elevated” labor market and inflation.

Projections released after the Fed’s two-day meeting showed that most policymakers foresee only one rate cut in 2026. Fed Chair Jerome Powell gave no indication of when the next cut might occur.

Investors are awaiting November nonfarm payrolls and unemployment data due on Dec. 16 for clues about the Fed’s next move.

Analysts note that silver’s fundamentals remain positive, pointing to an “exceptionally strong tailwind” in markets that could further tighten supply.