Gold Prices Edge Higher, Nearing Record High

Gold prices inched up slightly on Thursday, hovering near the all-time high recorded in the previous session. The increase is driven by concerns over escalating trade tensions between China and the United States, boosting demand for the safe-haven asset.

At the same time, investors are eagerly awaiting job market data for insights into the strength of the world’s largest economy.

Spot gold rose 0.1% to $2,867.79 per ounce, after reaching a record high of $2,882.16 in the previous session.

Meanwhile, U.S. gold futures slipped 0.2% to $2,887.10.

Among other precious metals, silver edged up 0.1% to $32.35 per ounce, platinum gained 0.2% to $981.81, and palladium rose 0.1% to $990.66.