Gold Climbs Above $4,500 in Historic Rally for Precious Metals

(Bloomberg) — Gold (GC=F) rose to an all-time high above $4,500 an ounce on escalating tensions in Venezuela and expectations for more US rate cuts. Silver and platinum also advanced to records. Spot gold climbed nearly 1%, building on three consecutive days of gains. Frictions in Venezuela, where the US has blockaded oil tankers, have added to the metal’s haven appeal. Traders are also betting the Federal Reserve will follow three straight interest-rate cuts by lowering the cost of borrowing again next y ...