Gold prices surged to a record high of $3,473.03 per ounce on Tuesday, climbing 1.4% to $3,472.49, driven by investor concerns over U.S. President Donald Trump’s ongoing criticism of Federal Reserve Chair Jerome Powell. Trump’s push for immediate interest rate cuts, coupled with warnings of an economic slowdown, has eroded confidence in U.S. assets, prompting a flight to safe-haven gold. U.S. gold futures also rose 1.7% to $3,482.40. The dollar weakened amid tariff disputes and a U.S. asset sell-off, further boosting gold’s appeal. Markets now await speeches from Fed officials for clues on monetary policy, amid fears over the central bank’s independence. Meanwhile, silver dipped 0.4% to $32.57, platinum rose 0.3% to $964.78, and palladium gained 1.3% to $939.50, reflecting mixed trends in other precious metals.
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