Gold reached a new record high above $3,682 an ounce, fueled by expectations of a US Federal Reserve rate cut. Investors foresee at least one cut this week and another before year-end, driving Treasury yields lower. Uncertainty over geopolitics and Trump’s trade agenda also support gold prices.

President Trump’s pressure on the Fed could push gold to nearly $5,000 an ounce, according to Goldman Sachs. Gold edged higher to an undisclosed amount in New York, while silver and platinum rose, and palladium fell. Copper also rose on the London Metal Exchange.

Thai authorities are considering taxing gold transactions settled in baht to curb a currency rally affecting exports and tourism. The tax aims to reduce gold exports and make ownership more expensive. Dollar inflows from bullion shipments are contributing to the baht’s strength.

Read more at Yahoo Finance: Gold Rises to Fresh Record With Fed Seen Cutting Rates This Week