%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The price of gold (TVC: $GOLD ) is currently at its highest level in two weeks and on track for a fourth consecutive monthly increase. Gold bullion is currently trading at $4,221.30 U.S. per ounce, having steadily risen in recent days as optimism grows over a possible U.S. Federal Reserve rate cut in December. Spot gold is now trading at its highest level since Nov. 14 and is set for a 2.7% weekly gain. Bullion is on pace for a 4% gain in the month of November. Gold's price has been rising as markets price in an 85% chance of a 25-basis point interest rate cut from the U.S. central bank on Dec. 10. Gold bullion, which is a non-yielding asset, tends to do well when interest rates are falling. The release of soft U.S. economic data after the government shutdown in Washington, D.C. has reinforced expectations that the Federal Reserve will continue lowering interest rates. At the same time, capital continues to flow into gold as the U.S. dollar weakens, heading for its worst week since late July. A weaker American dollar makes gold more attractive for buyers using other currencies. Many Wall Street firms maintain their forecast for the price of gold to surpass $5,000 U.S. an ounce over the next year amid continued buying on the part of investors and central banks.