Gold Prices Rise Towards New Record High Amid Geopolitical Tensions

Gold prices rose sharply for the second consecutive session on Wednesday.

Escalating tensions in regions like Korea and the Middle East have increased gold's appeal as a safe haven.

South Korea and the U.S. are monitoring North Korea's violations of UN sanctions, with recent border tensions raising concerns about conflict escalation.

Israeli raids on Beirut, despite U.S. diplomatic objections, are contributing to heightened geopolitical instability.

Comments from Fed member Mary Daly suggest possible interest rate cuts this year, which may weaken the dollar and support gold prices.

Expectations of continued Fed rate cuts boost gold's attractiveness as a commodity priced in U.S. dollars.