Gold Hits Record High Above $3,000, Silver Climbs to $34

Gold surged past the $3,000 mark on Tuesday, reaching a new record high as investors flocked to the precious metal amid escalating geopolitical tensions in the Middle East and renewed U.S. tariff policies under President Donald Trump.

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    Spot gold peaked at $3,028.24 in early trading before settling at $3,023.30 per ounce by 09:27 GMT, reflecting a 0.7% increase. This follows its initial breakthrough of the $3,000 threshold on March 14. Meanwhile, U.S. gold futures climbed 0.9% to $3,032 per ounce.

    Gold Hits Record High Above $3,000, Silver Climbs to $34

    The metal, widely regarded as a hedge against economic and political uncertainty, has risen over 14% this year, achieving record highs 14 times. Analysts are adjusting their forecasts accordingly, with ANZ raising its three-month gold price outlook to $3,100 and projecting $3,200 within six months. Similarly, UBS has set a price target of $3,200 for the year.

    Silver also saw gains, rising 0.6% to $34.03 per ounce, while platinum edged up 0.6% to $1,005.70. Palladium registered a stronger increase, climbing 1.4% to $977.96 per ounce.

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