Record high gold amid expectations of US interest cuts
The price of gold exceeded $4,600 an ounce (ounce) for the first time on Monday, while silver also jumped to an all-time high, supported by geopolitical and economic uncertainty and growing expectations of lower US interest rates.
Gold in spot transactions rose 1.5% to $4,478.79 per ounce, and the precious metal had a new record high of $4,600.33 earlier in the session.
U.S. gold futures for February delivery rose 2% to $4,591.10.
The Iranian unrest comes as Trump showcases U.S. power internationally, having toppled Venezuelan President Nicolas Maduro and discusses acquiring Greenland by purchase or force.
U.S. employment growth slowed more than expected in December, amid job losses in the construction, retail and manufacturing sectors, data showed.
However, the low unemployment rate indicated that the labor market did not deteriorate rapidly.
Investors currently expect the US Federal Reserve to cut interest rates at least twice this year. The weakness of the labor market increases the likelihood of lowering interest rates.
Gold prices could rise to $5,000 an ounce in the first half of 2026 due to higher geopolitical risks and debt, according to Bank H. S. B. C).
Spot silver rose 4.4% to $83.50 an ounce after hitting an all-time high of $83.96 earlier in the day.
Spot Platinum Increased 2.9% To $2,338.54 An Ounce After Hitting A Record High Of $2,478.50 On December 29.
Palladium also rose 4.2% to $1,892.18 per ounce.