The US dollar is at its lowest in over a month, making gold more attractive for buyers worldwide.
Hopes for a breakthrough in U.S.-Iran talks (and growing chances of a US interest rate cut) are also fueling the rally.
It's not just gold: silver rose 0.9%, platinum edged up 0.1%, and palladium gained 0.2%, showing metals are having a moment as inflation fears fade and the dollar softens.