Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “Gold climbed to a fresh record high this morning, as a cocktail of geopolitical tension and questions over Federal Reserve independence sent investors flocking to safety.
“Escalating rhetoric between Iran and the US, alongside revelations that Chair Powell faced threats from the White House over past decisions, heightened the sense of political risk.
“A softer US jobs print on Friday added fuel to the gold trade, with traders leaning into expectations of two rate cuts this year ahead of a pivotal inflation report later this week.”
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