Gold prices soared to a historic high of $3,500 per ounce on Tuesday before retreating slightly, as mounting concerns over potential political interference in the Federal Reserve drove investors away from U.S. stocks, bonds, and the dollar.
The rally highlights increasing demand for safe-haven assets amid uncertainty in financial markets.
Bullion climbed as much as 2.2% in early trading, briefly touching $3,500 per ounce, before easing as traders locked in profits.