Gold Climbs to Record on Mix of Fed Pivot and Geopolitical Risks
- Bullion rallied almost $100 an ounce over past five sessions
- Risk of a stock market correction may have prompted buying
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Gold touched an all-time high as fund buying combined with speculation over a Federal Reserve pivot and geopolitical and financial risks underpinned a rally in the precious metal.
Bullion rose as much as 1.3% to $2,141.79 an ounce before paring gains, with Tuesday’s high topping the previous record of $2,135.39 set three months ago.