Gold surged past $3,500 per ounce Monday, setting a fresh all-time high as investors fled a slumping dollar and intensifying U.S. political risk. According to Reuters, spot prices touched $3,500.05 before holding above $3,420 in late trade.
Safe-haven demand spiked after President Donald Trump’s latest public challenge to Federal Reserve Chair Jerome Powell over interest-rate policy; Bloomberg reported bullion has climbed roughly one-third since January.
Central-bank buying amplified momentum; Reuters added that year-end price targets now sit near $3,700 following a 54 percent jump in official-sector purchases during late 2024.
CBS News data show gold has advanced about 26 percent in 2025, far outpacing major equity benchmarks and underscoring the metal’s appeal amid heightened volatility.
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