Spot gold was up 1.3 percent at $2,620.63 per ounce by 1:43 p.m. ET, while U.S. gold futures settled 1.2 percent higher to $2,646.20. Bullion's latest rally got a fillip after the Federal Reserve initiated an aggressive easing cycle on Wednesday with a half-percentage-point reduction, adding to the appeal for gold, which pays no interest.

Experts are bullish on gold for October, despite some market uncertainty. Here's what investors should consider now.

The price of gold traded at $2,576.19 per troy ounce, as of 9 a.m. ET. That’s down 0.08% from yesterday’s gold price per ounce and up 24.68% since the beginning of the year. The lowest trading price within the last 24 hours: $2,560.90 per ounce. The highest gold spot price in the last 24 hours: $2,582.28 per ounce.

Gold has smashed a new record at US$2,591.6 per ounce. Here are Westpac's forecasts through til 2028. The post Can the record gold price keep going higher? appeared first on The Motley Fool Australia.