Gold Reaches New Peak Amidst Geopolitical Tensions and Fed's Rate Decision

In a surprising turn of events, gold prices have surged to an all-time high of $3,030, breaking previous records. This remarkable increase comes in the wake of escalating geopolitical tensions and the US Federal Reserve's recent announcement to hold off on further rate cuts, seeking greater clarity in the face of tariff-related uncertainties that are pushing inflation expectations higher.

As of 5:24 am ET, gold was trading at $3,045.41, slightly lower than its peak of $3,055.96 reached earlier. Meanwhile, other precious metals didn't fare as well, with silver dropping by 0.66% to $33.59, platinum decreasing by 0.37% to $995.14, and palladium falling by 0.72% to $943.20.