09:12 AM EST, 12/24/2025 (MT Newswires) -- Gold edged higher in light pre-holiday trading early on Wednesday, rising off Tuesday's record close as momentum buying continues to support the precious metal.

Gold for February delivery was last seen up US$0.60 to US$4,506.30 per ounce.

The metal's price is up 71% over the past year, pushed up by the prospect of lower interest rates, safe haven buying amid wars in the Middle East and Ukraine, as well as the economic uncertainty spurred by U.S. tariff policies. An unexpectedly strong U.S. third-quarter gross domestic product released Tuesday also offered support, with the country's economy rising a more than expected 4.3% in the period, up from 3.8% in the prior quarter.

The dollar was mostly steady, with the ICE dollar index was last seen down 0.02 points to 97.93. Treasury yields were also little changed, with the yield on the U.S. two-year note last seen up 0.4 basis points to 3.54%, while the 10-year note was paying 4.161%, down 0.9 basis points.