"Gold has again moved to yet another record, with its safe-haven reputation shining bright, said analysts at RBC Capital Markets."
"Gold has set a series of records during an ugly stretch for the markets, with its price surging more than 30 percent since the start of the year."
Global investors are turning to gold as a safe haven, driving its price to a record $3,500 an ounce due to escalating concerns over President Trump's trade war and tensions with the Federal Reserve. The price of gold has surged over 30% this year, reflecting a market distressed by declining stock values and a weak dollar. Analysts suggest that gold's reputation as a secure asset is particularly prominent amidst fears regarding Fed independence and global trade relations. The market reaction is compounded by a notable sell-off in Treasury bonds, further boosting gold's allure.
Read at www.nytimes.com
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