Gold Nears Record, Silver Breaks $90 on Fed Rate Cut Bets Amid Geopolitical Tensions

• Gold climbed to $4,627.95 per ounce, nearing its record high of $4,634.33 set recently.
• Silver surged past the $90 mark for the first time, reaching $90.95 per ounce, after a 28% gain this year.
• Softer-than-expected U.S. inflation data (CPI up 0.2% MoM, 2.6% YoY) fueled expectations for interest rate cuts.
• Analysts predict two 25-basis-point rate cuts this year, with the first potentially in June.
• Geopolitical uncertainty and concerns over Fed independence are driving safe-haven demand for precious metals.

Why It Matters: Precious metals are rallying due to anticipated Fed rate cuts, lower inflation, and global uncertainties.