Precious Metals Rally Ahead of Fed's Announcement

In a significant uptick, gold prices soared by more than 1% on Tuesday, extending its rally from the previous day. This surge comes as the market braces for the Federal Reserve's upcoming decision on key interest rates, scheduled for announcement tomorrow. The uncertainty surrounding United States President Donald Trump's trade policies continues to drive investors towards safer assets, further fueling the precious metals market.

Market Reactions and Price Movements

At 3:26 am ET, gold was trading at $3,375.21 per ounce, marking a 1.25% increase. Silver followed suit, climbing 1.96% to $33.13 per ounce by 3:27 am ET. Platinum also saw gains, rising 1.58% to $979.31 per ounce at the same time. Palladium experienced a modest increase of 0.35%, reaching $935.62 per ounce by 3:28 am ET.