A Kuwaiti jeweller arranges gold objects at his store in Kuwait Metropolis as US President Donald Trump’s commerce wars enhance the safe-haven asset.
Picture: Yasser Al-Zayyat / AFP
Goutdated reached $3,500 an oz. for the primary time Tuesday, as US President Donald Trump’s tariffs and verbal assault towards the Federal Reserve despatched buyers snapping up the protected haven asset.
The dear metallic reached an all-time excessive $3,500.10 an oz. earlier than pulling again to $3,467.87.
Gold has hit a collection of file highs in latest weeks as buyers search refuge amid a weakening greenback and following sharp losses throughout inventory markets.
Trump’s tariffs have sparked a commerce conflict with China, the world’s second largest economic system after america. Gold is up greater than 30 p.c for the reason that begin of the 12 months.
The “rally displays ongoing recession fears within the US economic system and heightened political tensions, particularly as President Donald Trump continues to assault Federal Reserve Chair Jerome Powell”, famous Rania Gule, senior market analyst at buying and selling group XS.com.
