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Gold Surges Past $3,380 as Dollar Weakens Against Asian Currencies

Gold prices have risen by 1.6% to over $3,387 per ounce, primarily driven by increased demand from China as markets reopened after a five-day holiday.

The precious metal’s value has increased by more than 25% this year, reaching a record high of $3,500 in April.

This growth is attributed to gold’s safe-haven status amid market uncertainty caused by President Trump’s trade policies, Chinese speculative buying, and central bank purchases.

Investors are now watching for the Federal Reserve’s upcoming interest rate decision.

Original Source: Bloomberg

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