"Gold Surges to All-Time High as Market Anticipates Fed Rate Cuts in March"

Gold prices reached a record high after Federal Reserve Chair Jerome Powell's remarks increased traders' confidence that the central bank would cut rates starting in March. Spot gold climbed 1.6% to $2,069.10 per ounce, with prices up 3.4% for the week. Powell's comments about the risks of under- and over-tightening being more balanced fueled expectations of rate cuts, despite his warning against premature speculation. Lower interest rates reduce the opportunity cost of holding gold, boosting its appeal. Silver also rose to a six-month high, while platinum and palladium saw modest gains and losses, respectively.