Gold Hits Record High As Safe-Haven Demand Surges
Gold prices soared to record levels in early Asian trading on Dec 26, driven by heightened safe-haven demand and growing expectations of further US Federal Reserve rate cuts.
Reuters reported that spot gold climbed 0.5% to US$4,501.44 an oz by 0209 GMT, after briefly touching an all-time high of US$4,530.60 earlier in the session.
Investors flocked to the precious metal amid global economic uncertainties, reinforcing gold’s status as a preferred store of value in volatile markets.
