Gold Leads Precious Metals Rally Ahead of Key Fed Decision

In a significant uptick, spot gold prices surged by 2.5% early Monday, as the market's attention turns to the Federal Reserve's upcoming meeting and the ongoing U.S.-China trade tensions. This movement underscores the metal's role as a safe haven during times of economic uncertainty.

Silver and Palladium Also See Gains

Not to be outdone, silver prices climbed 1.25%, reaching $32.42 per ounce, while palladium added a modest 0.70% to $946.24 per ounce. Platinum, however, remained steady at $965.22 per ounce, showing little change from previous sessions.

Investors Await Federal Reserve's Next Move

The precious metals market is on high alert, with investors eagerly anticipating the Federal Reserve's decision later this week. The outcome could have significant implications for gold and other metals, especially in the context of global trade dynamics.