Doha: Gold prices continued their record rally on Tuesday, driven by concerns over US President Donald Trump's criticism of Federal Reserve Chair Jerome Powell, which dampened risk sentiment and drove investors towards safe-haven bullion. Spot gold was up 1.4% at 3,472.49 an ounce, after touching a record high of 3,473.03 per ounce earlier in the session. US gold futures firmed 1.7% to 3,482.40.
According to Qatar News Agency, Trump reiterated his call for an immediate reduction in interest rates on Monday, warning that the US economy could face a slowdown, while criticizing Powell's stance on keeping rates unchanged until clarity on the inflation impact of Trump's tariff plans.
Spot silver fell 0.4% to 32.57 an ounce, platinum gained 0.3% to 964.78, while palladium rose 1.3% to 939.50.