Gold inched higher on Wednesday as investors prepared to get key U.S. jobs data.
Srinophan69 | Moment | Getty Images
Gold prices hit record highs Tuesday after Federal Reserve Chair Jerome Powell raised concern over the state of the U.S. economy.
Spot gold climbed 0.9% to 3,778.54 per ounce. Gold futures for December delivery scaled 1% to $3,811.30 per ounce.
"Near-term risks to inflation are tilted to the upside and risks to employment to the downside — a challenging situation," Powell said at the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon . "Two-sided risks mean that there is no risk-free path."