Dollar Plunges to Near Four-Year Low as Gold Pushes Past $5,200

UNITED STATES – The United States dollar has slid to a near four-year low as gold prices surged to record territory.

Spot gold broke through the $5,200 mark for the first time, climbing more than 3% in a single day ahead of a key interest rate decision by the Federal Reserve.

Analysts say gold is benefiting from a weaker dollar, pointing to the traditional inverse relationship between the two.

The dollar’s decline has been described as a crisis of confidence, coming even as President Donald Trump said the currency’s value remains, quote, “great.”

Markets are now watching closely for signals from the Fed on where policy goes next.