Gold Extends Record Setting Run After Fed
Gold climbed over 2% to nearly $5,300 per ounce on Wednesday, extending record highs as a weaker US dollar, elevated policy uncertainty, and a steady Federal Reserve reinforced demand for safe-haven assets. The rally gained traction after President Trump downplayed the dollar’s recent slide to four-year lows, signaling tolerance for currency weakness amid ongoing tariff threats and renewed criticism of the Fed’s independence, which kept geopolitical and policy risks firmly priced in. The Fed held rates unchanged at 3.50%–3.75% as expected, acknowledging solid economic activity and signs of labor-market stabilization but stressing that inflation remains elevated and uncertainty around the outlook is still high. The non-unanimous decision, with two policymakers favoring an immediate cut, reinforced expectations that easing remains on the table later this year, supporting gold alongside persistent central-bank buying and ETF inflows.