Ammon News - Gold broke through $5,200 for ​the first time on Wednesday, after rising more than 3% on Tuesday, as ‌the dollar plunged to a near four-year low amid persisting geopolitical concerns, ahead of a U.S. Federal Reserve monetary policy decision.

Spot gold jumped 1.1% to $5,243.58 per ounce, as of 0314 GMT, after scaling a record high of $5,247.21 earlier, up more than 20% since the start of the year.

U.S. gold ‌futures for February delivery surged 3.1% to $5,237.70 per ounce.

The U.S. dollar was grappling with a "crisis of confidence" as ⁠it struggled near four-year lows, exacerbating dollar selling, after President Donald Trump said the currency's ‍value is "great" when asked whether he thought it had declined too much.

Spot silver was up 1.9% at $115.11 an ounce, after hitting a record high of $117.69 on Monday. The white metal has already jumped almost ​60% so far this year.

Spot platinum gained 2% to $2,692.60 ‍per ounce after hitting a record $2,918.80 on Monday, while palladium was up 1.4% at $1,961.68.

Reuters