Gold has surged to a new record high due to a weakening US dollar and ongoing concerns about the global trade war. The precious metal climbed above \$3,385 per ounce as the dollar dropped to its lowest point since early 2024. President Donald Trump’s public criticism of the Federal Reserve and his calls for lower interest rates have added to the uncertainty. Additionally, remarks by Austan Goolsbee, President of the Fed Bank of Chicago, warning against undermining the central bank’s independence, have further fueled demand for gold as a safe-haven asset.
— new from Bloomberg.com
