Gold Prices Soar to Record Highs
Gold continued its record-breaking rally , hitting $5,560 per ounce on Thursday, extending its gains amid a weakening US dollar and ongoing economic and geopolitical uncertainty. The yellow metal has now reached record highs for nine straight sessions , reflecting strong safe-haven demand . Analysts point to the volatile US political environment and concerns over the Federal Reserve’s independence as key drivers of investor interest in gold. ANZ analyst Soni Kumari noted: “Gold prices are rising on safe-haven demand because of the strange geopolitical situation and the political situation in the U.S., which is not looking great.” Factors Driving Gold Prices Several factors are fueling this historic rally: US Dollar Weakness – The dollar remains weak, pushing investors toward gold. Safe-Haven Demand – Geopolitical risks, including tensions between the US and Iran, are increasing demand. Central Bank Buying – Governments and institutions continue to purchase go...