Gold touched peaks on Thursday, as gold took advantage of the slump of the greenback amid the unclear picture of the interest rate trajectory, while soared demand on safe haven also buoyed prices.

The lingered geopolitical disruptions in the Middle East and the conflict between Russia and Ukraine, topped with earthquake in Taiwan.

Gold was further boosted by steep declines in the dollar, as Fed officials reaffirmed that rate cuts by the central bank were expected in 2024, but they provided few hints as to when exactly this may happen.

Spot gold advanced to a record peak of $2,302.58 per ounce, while gold futures touched a record peak of $2,322.25 per ounce.

The yellow metal was buoyed by the slid of the US dollar that almost dipped by 1 % post touching 4-½ month high previously this week.

The unclear stance of the interest rate trajectory had a major impact on the US dollar. As Fed Chair Jerome Powell didn’t state a specific timing for the rate cut this year .