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18 April 2024

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Gold price hits new record high above $3,500

03-09-2025 09:01 AM


Ammon News - Gold prices extended their record run on Wednesday, as persistent market uncertainty and growing investor confidence that the U.S. Federal Reserve will cut interest rates this month lifted demand for the safe-haven metal.

Spot gold was up 0.1% at $3,537.76 per ounce, as of 0448 GMT, after hitting an all-time of $3,546.99 earlier in the session. U.S. gold futures for December delivery gained 0.3% to $3,603.50.

Adding to market uncertainty and potential trade tensions, U.S. President Donald Trump's administration said it will ask the Supreme Court for an expedited ruling on tariffs that a U.S. appeals court found illegal last week.

Elsewhere, spot silver eased 0.4% to $40.74 per ounce, after hitting its highest point since September 2011 in the previous session. Platinum edged 0.1% lower to $1,401.59 and palladium rose 1.5% to $1,146.75.

Reuters




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