Gold prices climbed 1% to reach near-record levels as a softer US dollar and diminishing expectations of aggressive Federal Reserve rate hikes encouraged investors to seek safe-haven assets.
The precious metal is currently trading toward the $4,400 mark, supported by persistent geopolitical tensions and falling bond yields, despite the broader market volatility caused by rising oil prices.
Financial experts suggest that gold's upward momentum is likely to continue as long as the global economic outlook remains uncertain and central banks maintain a cautious stance on monetary policy.