Mumbai: Gold prices surged to unprecedented levels on Wednesday, approaching $4,200 per ounce, marking a historic high for the precious metal. Spot gold reached $4,186.68 before settling at $4,178.15, while U.S. gold futures climbed to $4,197.50. This rally comes amid growing expectations of U.S. Federal Reserve interest rate cuts and renewed trade tensions between the United States and China.

Investors have been responding to signals from the Federal Reserve, with Chair Jerome Powell noting a softer labor market and suggesting that interest rate decisions will be made on a meeting-by-meeting basis. Traders are now anticipating a 25-basis-point rate cut in both October and December, a move that typically boosts gold’s appeal as a non-yielding asset.

At the same time, escalating trade d

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