Gold price breaks $5,300 record before Fed decision, lifting GLD and miners
Gold prices surged past $5,300 an ounce on Wednesday, hitting a fresh record as the U.S. dollar hovered near multi-year lows ahead of the Federal Reserve’s policy announcement. Spot gold jumped 1.9% to $5,289.48 by 12:45 p.m. ET, after reaching $5,311.31 earlier. Meanwhile, U.S. gold futures for February climbed 4% to $5,286.50. The Fed’s decision is scheduled for 2 p.m. ET, with traders closely watching Chair Jerome Powell’s remarks for hints on future interest rate moves.
