Gold prices hit an all-time high on Thursday, continuing a recent rally that has taken the yellow metal beyond the previous peak seen in late October 2024. What is behind the recent push? Gold’s acceleration has come at the expense of the U.

Gold prices slipped on Wednesday as the dollar and bond yields rose after the U.S. Federal Reserve held interest rates steady, as widely expected, providing little clarity on the timing of future rate cuts.

Since about mid-2024, inflation has been tracking closer to the 2 percent target set by G7 central banks. Since then, the US Federal Reserve has lowered its benchmark rate by 1 percent to 4.25 to 4.5 percent.