Ammon News - Gold climbed to an all-time high on Thursday as the U.S. Federal Reserve signaled two possible interest rate cuts this year, adding to the precious metal's appeal amid ongoing geopolitical and economic tensions.

Spot gold added 0.1% to $3,050.94 an ounce as of 0520 GMT, after touching an all-time high of $3,057.21 earlier in the session.

U.S. gold futures gained 0.6% to $3,059.50.

On Wednesday, the Fed left its benchmark rate unchanged in the 4.25%-4.50% range, as was widely expected. Policymakers anticipate two quarter-percentage-point cuts by the end of 2025.

U.S. President Donald Trump's initial policies, including extensive import tariffs, appear to have tilted the U.S. economy towards slower growth and higher inflation, at least temporarily, Fed Chair Jerome Powell said.

Geopolitical and economic uncertainties underscore gold's role as a store of value.

Spot silver firmed 0.15 to $33.84 an ounce and platinum rose 0.2% to $995.00. Palladium eased 0.2% to $956.35. Reuters