Gold Surpasses New Heights Beyond $3,500 an Ounce

The precious metal hit an intraday high of $3,508.50 per ounce, later stabilizing at $3,487.55, marking a 0.3% increase as of 06:33 GMT. Meanwhile, U.S. gold futures for December delivery rose by 1.2% to $3,557.80. Since the beginning of the year, the spot price has surged by 32%. Monetary expectations and political uncertainties are influencing the markets, with nearly a 90% probability now assigned to a 25 basis point cut in the Fed's key interest rate this September. Investors are increasing their bets on monetary easing amid ongoing concerns about the independence of the central bank and growing uncertainty surrounding President Donald Trump's trade policies. The demand for safe-haven assets remains robust, with gold gaining renewed appeal in the face of heightened volatility in financial markets. The rise of the yellow metal reflects both a distrust of the U.S. dollar and a strategic shift among investors seeking protection against geopolitical and monetary risks.