Gold futures near $4,240/ounce, set for fourth straight monthly gain, close to record high on expectations of December rate cut. Gold hit record $4,336/ounce on Oct. 20, up 60% this year. US dollar easing and “run-it-hot” policies expected to support prices. Trump aims to end income tax, cites tariff revenue.

Trump plans to cut or eliminate income tax, predicts large revenue from tariffs. Earlier floated idea of $2,000 tariff dividend. Inflationary comments drive gold response. Analysts remain bullish on gold despite largest one-day sell-off in a decade. Gold on track for best year since 1979.

Goldman Sachs forecasts $4,900/ounce by end-2026 with potential for more upside. UBS raises price target to $4,500/ounce by mid-2026, bullish on gold as portfolio diversifier and geopolitical hedge. Analysts optimistic on continued central bank buying and private investor flows under Fed easing.

Read more at Yahoo Finance: Gold clinches fourth straight monthly gain, closes in on record high as markets solidify rate cut bets