"I hadn't seen anything like it in my four decades working in financial markets. The second oil shock and the inflation scare in the late '70s, early '80s would be the last time I remember when gold did this and that was before my time in markets,"
"If the Federal Reserve is doing this on behalf of the US Treasury, they're only doing it for one reason: they think the US dollar is too high,"
Gold jumped 1.8% to US$5,078 an ounce, rising above US$5,000 for the first time as investors moved into the precious metal as a safe-haven. The surge followed threats of 100% tariffs on Canada, a US confrontation with Europe over Greenland, and renewed fears of a US government shutdown after Democrats tied Department of Homeland Security funding to a shooting involving federal immigration agents. Gold has risen nearly 90% since the president's inauguration about a year ago. Market commentators linked the rally to jitters over US policy and moves suggesting authorities are concerned the US dollar is too high.
Read at www.theguardian.com
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