Gold Rises After Fed Inflation Warning

Gold prices rose significantly this Thursday, following warnings from the U.S. Federal Reserve about growing risks related to inflation and the labor market, prompting investors to seek safe-haven assets.

Spot gold increased by 0.9%, reaching $3,392.90 per ounce, while U.S. gold futures rose by 0.2% to $3,399.80 per ounce.

This rise comes as investors await key developments in U.S.-China trade negotiations expected in the coming days.

Gold had previously hit an all-time high of $3,500.05 per ounce on April 22.

Among other precious metals, silver rose 1.2% to $32.85 per ounce, platinum gained 0.9% to $982.81, while palladium slipped 0.3% to $969.93 per ounce.