Gold $XAU continued its upward move in the Asian session, trading near $4,967 as rising geopolitical tensions and concerns over the Fed’s independence strengthened safe-haven demand. $ENSO

The metal is pushing toward a new record high and is on pace for a weekly gain of over 7%, supported by growing uncertainty linked to Venezuela, Iran, and Greenland. $SENT

Markets are also closely watching Trump’s upcoming Fed Chair nomination. A more dovish pick could increase expectations of rate cuts, reducing the cost of holding gold and providing further support to prices.