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.
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.
Collection
[
|
...
]