Gold Surges Past $3,380 as Dollar Weakens Against Asian Currencies

Gold prices have risen by 1.6% to over $3,387 per ounce, primarily driven by increased demand from China as markets reopened after a five-day holiday.

The precious metal’s value has increased by more than 25% this year, reaching a record high of $3,500 in April.

This growth is attributed to gold’s safe-haven status amid market uncertainty caused by President Trump’s trade policies, Chinese speculative buying, and central bank purchases.

Investors are now watching for the Federal Reserve’s upcoming interest rate decision.