Gold prices climbed to a new all-time high on Wednesday, as investors increased allocations to safe-haven assets amid a softer U.S. dollar. As a result, spot gold advanced 1.2 percent to US$4,818.03 per ounce by 0125 GMT, after reaching an intraday record of US$4,836.24 earlier in the session. Meanwhile, U.S. gold futures for February delivery also moved higher, rising 1 percent to US$4,813.50 per ounce.
Precious metals follow broader momentum
Elsewhere in the precious metals complex, silver prices edged up more modestly. Spot silver added 0.1 percent to US$94.68 per ounce, although it remained below Tuesday’s record peak of US$95.87. At the same time, platinum outperformed, gaining 0.9% to US$2,485.50 per ounce after touching a new high of US$2,511.80 earlier in the day. Palladium also strengthened, firming 0.4 percent to US$1,873.18 per ounce. Consequently, the broader sector reflected sustained investor demand for hard assets amid ongoing macroeconomic uncertainty.
