The precious metal has been on a steady climb since the beginning of the year, driven by a combination of factors, including rising inflation, supply chain disruptions, and a weakening U.S. dollar. Gold prices surged to a record high of $2,600 per ounce on Friday, driven by a confluence of factors. The U.S.

Gold is a precious metal that has been used for centuries for its beauty, rarity, and value. It is a highly sought-after commodity, and its price fluctuates based on various factors, including global economic conditions, supply and demand, and geopolitical events. Gold is a safe haven asset, meaning it tends to hold its value during times of economic uncertainty.

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This trend has been driven by a number of factors, including: 1. The increasing demand for gold as a safe haven asset. 2. The perception of gold as a hedge against inflation. 3. The growing popularity of gold as an investment asset. 4. The increasing use of gold in technological applications. 5. The declining value of the US dollar.

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Major geopolitical events, such as extended conflicts in the Middle East and Europe have added to uncertainties for global investors and burnished gold’s appeal. Policy decisions from global central banks also influence gold’s trajectory. **Detailed Text:**

The global gold market is intricately intertwined with geopolitical events and monetary policy decisions of central banks.

More central banks plan to add to their gold reserves within a year despite high prices for the precious metal, the World Gold Council (WGC) said in its annual survey in June. (Compiled by Bangalore Commodities and Energy Team; editing by Barbara Lewis)