Gold Surges to Record High Above $5,300 Amid Fed Uncertainty
Gold prices skyrocketed to an unprecedented $5,300 per ounce as Federal Reserve policy uncertainty drove demand for safe-haven assets. The rally coincided with a weakening U.S. dollar, amplifying bullion's appeal as a hedge against currency risks.
Spot gold climbed 2.3% to $5,305.65, marking a 20% year-to-date gain - one of the strongest openings in recent history. Gold futures mirrored the surge, breaching the $5,300 level with 21% monthly gains.
The metal's explosive performance reflects growing market caution, with investors increasingly monitoring the MOVE index for signs of deeper economic stress. The dollar's slump to NEAR four-year lows further accelerated gold's ascent.