Most precious metals prices slumped on Thursday, however, gold managed to break its previous record when it hit an all-time high of $3,030, pushed up by growing geopolitical tensions.
The market response follows the US Federal Reserve's decision to pause rate cuts yesterday, stating that it would want to wait for "greater clarity" before adjusting rates amid tariff-related uncertainty, which is driving inflation expectations higher.
Gold traded flat at 5:24 am ET, going for $3,045.41 after ticking even higher to $3,055.96 moments ago. At the same time, silver slumped by 0.66%, selling at $33.59. Platinum lost 0.37%, going for $995.14, while palladium lost 0.72%, trading at $943.20.
