Gold prices continued their rally on Wednesday, buoyed by safe-haven demand, following their strongest session since 2008.
- Spot gold rose 2.7% to $5,071.79 per ounce as of 03:53 GMT, after surging 5.9% on Tuesday—its largest single-day gain since November 2008. Bullion recently hit a record high of $5,594.82 last Thursday.
- US gold futures for April delivery climbed 3.2% to $5,092.00 per ounce.
Other precious metals also saw notable gains:
- Spot silver increased 3.2% to $87.84 per ounce, having reached a record high of $121.64 last Thursday.
- Spot platinum advanced 2.9% to $2,273.70 per ounce, after hitting an all-time peak of $2,918.80 on 26 January.
- Palladium rose 3% to $1,784.67 per ounce.
The upward momentum across the precious metals market reflects ongoing investor interest in safe-haven assets amid market volatility.
