February gold futures rose 3.3% to $5,250.4 an ounce
Gold futures climbed as the dollar fell to its lowest level in nearly four years amid persistent geopolitical concerns, ahead of the US Federal Reserve’s monetary policy decision, with expectations that interest rates will be left unchanged later on Wednesday. 
February gold futures rose 3.3%, or $167.8, to $5,250.4 an ounce, after touching $5,259.30 the highest level on record for the most-active contract.
Spot gold gained about 1.6% to a record high of $5,261.84 an ounce, while spot silver rose nearly 2.9% to $115.34 an ounce.
The US dollar index, which measures the currency against a basket of six major peers, fell 0.15% to 96.08 points as of 9:01 a.m. Mecca time.
March silver futures surged 8.95% to $115.45 an ounce. Spot platinum rose 1.4% to $2,691.98 an ounce, while spot palladium gained 1.35% to trade at $1,957.73 an ounce.
The moves followed a sharp drop in US consumer confidence to its lowest level in more than 11-1/2 years in January, amid growing concerns about a weakening labor market and rising prices.
February gold futures rose 3.3% to $5,250.4 an ounce
Gold futures climbed as the dollar fell to its lowest level in nearly four years amid persistent geopolitical concerns, ahead of the US Federal Reserve’s monetary policy decision, with expectations that interest rates will be left unchanged later on Wednesday.
February gold futures rose 3.3%, or $167.8, to $5,250.4 an ounce, after touching $5,259.30 the highest level on record for the most-active contract.
Spot gold gained about 1.6% to a record high of $5,261.84 an ounce, while spot silver rose nearly 2.9% to $115.34 an ounce.
The US dollar index, which measures the currency against a basket of six major peers, fell 0.15% to 96.08 points as of 9:01 a.m. Mecca time.
March silver futures surged 8.95% to $115.45 an ounce. Spot platinum rose 1.4% to $2,691.98 an ounce, while spot palladium gained 1.35% to trade at $1,957.73 an ounce.
The moves followed a sharp drop in US consumer confidence to its lowest level in more than 11-1/2 years in January, amid growing concerns about a weakening labor market and rising prices.
