Gold has surged to a record $3,508.50 per ounce, extending a rally that has lifted its value by nearly a third this year.
The rise reflects investors seeking safety amid global economic volatility and trade disputes.
Market watchers say strong demand is keeping upward momentum intact.
Much of the surge has been attributed to US President Donald Trump’s tariff policies.
Analysts note these measures unsettled global trade flows and fueled investor caution.
As a result, gold has reasserted its role as a preferred safe-haven asset.
Expectations of a US Federal Reserve interest rate cut are also bolstering prices.
Lower rates typically weaken the dollar, making gold more attractive globally.
Investors see this as a key driver for further gains in the precious metal.
Adrian Ash of BullionVault told the BBC that Trump’s impact on geopolitics has stoked the rally.
He pointed out the US election last year also set the stage for strong demand.
Ash described the rise as a direct response to shifting political and trade risks.
Concerns about the Federal Reserve’s independence have added to market jitters.
Analysts believe any signs of pressure on the Fed could further boost gold demand.
For now, investors continue to treat gold as a hedge against growing uncertainty.
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