Gold Hits All-Time High

2025-03-19 03:03:02

(MENAFN- The Peninsula) QNA

Singapore: Gold prices rose to hit a record high on Wednesday supported by safe-haven demand spurred by geopolitical tensions and tariff uncertainty, while traders awaited the US federal Reserves policy decision.

Bullion reached an all-time high of US$3,035.12 per ounce on Tuesday.

US gold futures rose 0.1 % to US$3,042.20.

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Gold, historically considered a hedge against geopolitical and economic uncertainties, has gained over 15 % year-to-date.

Meanwhile, the Fed, which will conclude its two-day policy meeting later in the day, is expected to hold its benchmark interest rate steady in the 4.25 to 4.5 %.

Spot silver fell 0.2 % to US$33.97 an ounce, platinum lost 0.4% to US$992.85 and palladium eased 0.1 % to US$966.24.

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