Gold prices rose for the fifth day in a row, supported by market expectations of the Federal Reserve's dovish stance and a correction in technology stocks. At one point, the price of gold rose 1.1%, less than $40 from its all-time high, setting a record for the longest continuous increase since reaching a record high in October. Asian stock markets declined on Monday, and global risk appetite subsided, as the market raised doubts about whether technology companies could maintain high valuations and the ability to invest heavily in artificial intelligence. This further enhanced the appeal of gold as a safe haven asset during the last full trading week of the year. Gold bulls are also betting that the Federal Reserve will further relax monetary policy next year.

Gold prices rose for the fifth day in a row, supported by market expectations of the Federal Reserve's dovish stance and a correction in technology stocks. At one point, the price of gold rose 1.1%, less than $40 from its all-time high, setting a record for the longest continuous increase since reaching a record high in October. Asian stock markets declined on Monday, and global risk appetite subsided, as the market raised doubts about whether technology companies could maintain high valuations and the ability to invest heavily in artificial intelligence. This further enhanced the appeal of gold as a safe haven asset during the last full trading week of the year. Gold bulls are also betting that the Federal Reserve will further relax monetary policy next year.