Precious Metals Rally Ahead of Federal Reserve Announcement

In a notable uptick, gold prices soared by more than 1% on Tuesday, extending its rally from the previous day. This surge comes as the market anticipates the Federal Reserve's impending decision on key interest rates, expected to be unveiled tomorrow. The uncertainty stemming from United States President Donald Trump's trade policies has further driven investors towards safer assets.

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 wasn't far behind, with a 1.96% rise to $33.13 per ounce by 3:27 am ET. Platinum also saw gains, climbing 1.58% to $979.31 per ounce, while palladium experienced a modest 0.35% increase, reaching $935.62 per ounce by 3:28 am ET.