Unprecedented Rise in Gold Prices

In an unprecedented surge, gold prices have reached a new all-time high, surpassing the previous record set in late October. The precious metal hit a staggering $2,790.87 per ounce, marking a significant moment in market history.

Market Reacts to Federal Reserve's Decision

This remarkable increase follows the US Federal Reserve's announcement to maintain current interest rates, signaling a cautious approach towards future rate cuts. The Fed's decision reflects a wait-and-see stance, prioritizing substantial progress on inflation or noticeable labor market weaknesses before any further adjustments.

Impact on Other Precious Metals

The ripple effect of the Fed's decision was felt across the board, with silver, platinum, and palladium also experiencing notable increases. Silver rose by 2.65% to $31.58 per ounce, while platinum and palladium saw increases of 1.86% and 2.02%, respectively, highlighting a broad-based rally in precious metals.