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Spot gold prices extended their record-breaking rally on Tuesday, reaching a new all-time high of $3,790.50.
U.S. gold futures also set a fresh record, climbing to $3,800, as expectations of further Federal Reserve rate cuts boosted safe-haven demand amid ongoing global uncertainties.
Among other precious metals, spot silver held flat at $43.82 per ounce, staying close to a 14-year high, while platinum rose 1.6% to $1,443.26 and palladium gained 1.3% to $1,201.15.
With the latest surge, gold prices have risen 13% over the past month, while year-to-date gains reached 44%—the strongest annual performance since 1979, when prices more than doubled, even though the year is not finished yet.
The rally has been supported by aggressive central bank purchases and growing demand for exchange-traded funds (ETFs), with World Gold Council data showing global inflows of $4.2 billion in the week ending Sept. 19 and more than $10.2 billion for the month.
Meanwhile, the Federal Reserve’s dovish stance continues to add momentum, as the CME FedWatch Tool shows that markets are pricing in a 90% probability of a 25-basis-point cut in October and a 73.5% chance of another cut in December.
While gold advanced, digital assets moved in the opposite direction. Bitcoin (BTC) slipped below the $113,000 mark, trading at $112,279.82, down nearly 2% in 24 hours. Ethereum (ETH) fell to $4,182.53, a drop of 2.79%, while Ripple (XRP) eased to $2.85, down 1.60%.
Investor sentiment was also reflected in exchange-traded crypto funds, with weekly net outflows of $445 million as of Sept. 22.
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In contrast, oil markets extended their decline for a fifth consecutive session, the longest losing streak since early August.
West Texas Intermediate (WTI) crude fell to $61.85, down 0.6%, while Brent crude dropped to $66.12, due to expectations of oversupply in the final quarter of 2025, with the surplus potentially continuing into 2026.
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