Gold prices rose to hit a lifetime high on Thursday while the focus was also on a crucial inflation report for clues on the Fed's policy path.

Safe-haven demand due to geopolitical uncertainties and concerns over global economic growth amid U.S. President Donald Trump's tariff plans have hoisted gold prices to a record high, once again bringing the key $3,

Gold prices rose on Thursday as investors worried about potential import tariffs from US President Donald Trump, while investors awaited a key inflation report to gauge the Federal Reserve's policy path. Spot gold was up 0.7 per cent at $2,777.55 per ounce, as of 1227 GMT. US gold futures climbed 0.9 per cent to $2,794.

Gold prices remained steady on Wednesday, as investors awaited the U.S. Federal Reserve's decision on interest rates due later in the day, while also focusing on U.S. President Donald Trump's trade policies following his tariff threats.

Gold prices remain near multi-month highs as traders await the Federal Reserve’s interest rate decision. Despite modest losses during the early European session on Wednesday, the price action remains strong in gold.

Since about mid-2024, inflation has been tracking closer to the 2 percent target set by G7 central banks. Since then, the US Federal Reserve has lowered its benchmark rate by 1 percent to 4.25 to 4.5 percent.