Gold š„ surged above $5,200 per ounce on Wednesday, reaching a new record high.
A sharp decline in the dollar attracted investors to safe-haven assets, boosting demand for gold. $PAXG
US President Donald Trump said he was not concerned about the dollar's recent decline, which has fallen to its lowest level in four years, and that it was beneficial for export competitiveness. Policy uncertainties in Washington, Trump's tariff threats, and attacks on the Federal Reserve's independence have supported the rally in precious metals. This could further drive up gold prices.
