Gold price (XAU/USD) surges to a fresh record high of $5,579 before retreating to around $5,500 in early Asian trading on Thursday. The rally of the precious metal is bolstered by strong safe-haven demand amidst persistent geopolitical tensions, economic uncertainty, and a weaker US Dollar (USD). The US Federal Reserve's (Fed) decision to keep interest rates steady has contributed to the Gold’s upside. The US central bank kept interest rates steady in the target range of 3.5% to 3.75% following its January policy meeting on Wednesday. Lower interest rates typically reduce the opportunity cost of holding non-yielding assets like gold, making it more attractive to investors.