Gold prices surged to an unprecedented level above $5,500 an ounce on Wednesday evening, extending their strong upward momentum amid escalating geopolitical tensions and growing demand for safe-haven assets. Spot gold climbed more than 1% to reach a record high of $5,595.41 per ounce, while April gold futures peaked at $5,625.89 per ounce. A weaker U.S. dollar further supported bullion prices, making gold more attractive to international buyers. This follows stalled negotiations over Iran’s nuclear program and missile development. Gold prices appeared largely unaffected by the U.S. Federal Reserve’s decision to leave interest rates unchanged, as geopolitical concerns outweighed monetary policy factors.