Gold Reaches Historic Peak Amid Strong Investor Demand, Economic Uncertainty

Tokyo, 16 Oct (ONA) --- Gold prices achieved a record high today as investors continued their strong pivot toward the precious metal against a backdrop of persistent geopolitical tensions and economic ambiguity. The rally was further supported by increasing market expectations for U.S. interest rate reductions and a concurrent softening of the U.S. dollar.

Spot gold climbed 0.4 percent to $4,224.79 per ounce, having earlier reached an unprecedented peak of $4,225.69. December delivery U.S. gold futures also advanced, rising 0.9 percent to $4,239.70.

The precious metal, widely regarded as a safe-haven asset during periods of market instability, traditionally performs well in lower interest rate environments. Gold has registered a notable 61 percent appreciation since the beginning of the current calendar year.

The dollar index declined 0.1 percent, trading near its lowest level in a week, which enhanced gold's affordability for international buyers holding other currencies.

Other precious metals followed similar trajectories, with spot silver gaining 0.2 percent to $53.16 per ounce after establishing its own record high at $53.60. Platinum increased 0.7 percent to $1,665.70, while palladium experienced a slight contraction, declining 0.3 percent to $1,540.36.

--- Ends/Khalid