On Friday, spot gold prices broke through the $2500 per ounce mark for the first time, hitting a new historical high as the timing of the Federal Reserve's interest rate cut approaches. Boosted by factors such as the weakening of the US dollar, expectations of the Fed's September rate cut, and geopolitical tensions in the Middle East, spot gold prices broke through the $2500 per ounce mark for the first time. During Friday's US trading session, spot gold briefly broke through the $2500 mark, but its latest gains have narrowed; US gold futures rose 1.1% to $2520.8 per ounce.