The price of gold surged to a new all-time high on Tuesday, surpassing $3,500 per ounce amid strong investor demand for safe-haven assets. Spot gold rose 2.2% to $3,493.41 per ounce, while U.S. gold futures climbed 2.3% to $3,502.40, according to Reuters.
Analysts attribute the rally to growing interest in gold as a stable store of value in times of economic uncertainty. Since the beginning of 2025, gold prices have soared nearly 33%, making it one of the top-performing assets of the year.
However, technical indicators such as the Relative Strength Index (RSI), which has reached 79, suggest the metal may be overbought in the short term.
Other precious metals also posted gains: silver rose 0.3% to $32.80 an ounce, platinum increased 1.1% to $972.20, and palladium jumped 2.2% to $948.14.
