Gold Futures Hit New Record on Central Bank Buying, Safe-Haven Demand

Gold futures have reached a new record high due to factors such as central bank purchases, safe-haven demand, and geopolitical tensions. June futures on the New York Mercantile Exchange have risen by 1.7% to $2,413.5 per troy ounce, hitting its all-time high of $2,416.5 earlier. In the past week, the futures have gained 4.6% and have increased by over 14% year-to-date.