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Gold pauses ahead of push for new record high
['Staff Writer']
Miningmx
GOLD prices remained stable on Thursday, trading close to the record peak reached a day earlier, as investors anticipated additional interest rate reductions from the Federal Reserve and monitored ongoing political turmoil in Washington.
The precious metal traded at $3,862.07 per ounce just below Wednesday’s all-time high of $3,895.09.
Goldman Sachs has revised its price targets upward to $4,000 per ounce by mid-2026 and $4,300 by year-end 2026, citing strong investment demand.
SPDR Gold Trust holdings climbed to their highest level since July 2022.
Other precious metals showed mixed performance, with silver declining 0.3% whilst palladium advanced 1.5%, said the newswire.