FX.co ★ Gold Hits New Record High

Gold surged by over 2.5%, reaching an unprecedented peak of more than $3,410 per ounce, as investors sought refuge amid escalating uncertainties. Concurrently, the US dollar weakened to its lowest level in three years due to President Trump's intensified pressure on the Federal Reserve, advocating for substantial interest rate reductions and allegedly contemplating the removal of Fed Chair Powell. Concerns over potential political intrusion in monetary policy have undermined confidence in the dollar. Furthermore, Trump's tariff threats, including a new investigation into critical mineral imports, have exacerbated fears of slower economic growth and mounting inflation. Collectively, these developments have heightened the demand for gold as a safe-haven asset, contributing to a 30% increase in its value this year.