Gold hovers near record high on renewed trade tensions, US rate outlook

Gold prices surged on Wednesday, nearing record levels. Investors sought safety in bullion as U.S.-China trade tensions escalated, increasing global uncertainty. Expectations of further U.S. interest rate cuts also fueled the rally. Silver prices also climbed, tracking gold’s upward movement. Platinum and palladium prices remained steady. Investors are closely watching upcoming economic data releases from China and Europe.

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