Reuters: Gold Soars to Record Above $3,100/oz, Eyes Best Quarter Since 1986
Article by Rahul Paswan in Reuters
Gold prices surged past $3,100 per ounce to a fresh record high on Monday, as worries about potential inflation pressures due to U.S. tariffs put the safe-haven asset on track for its strongest quarter since 1986.
Spot gold rose 1.1% to $3,117.29 per ounce, having hit a record $3,128.06 earlier. U.S. gold futures were up 1.2% at $3,151.10.
Bullion has gained around 18% so far this year, after rising more than 27% in 2024, supported by a favorable monetary policy backdrop, robust central bank buying and demand for exchange-traded funds, among other factors.
Gold's Relative Strength Index stands above 77, indicating the market is overbought, but analysts said the momentum has defied any standard logic of where prices are positioned.
"Gold's bull run is the reflection of the ....