Gold has climbed to a contemporary document excessive as Donald Trump prepares to disclose particulars of his “Liberation Day” tariffs.
Bullion inched above $3,172 per ounce for the primary time in a single day, following a 1.4pc rise on Monday as uncertainty grips international markets and economies.
Traders bought shares and turned to safe-haven property at first of the week after the US president mentioned “all international locations” could be impacted by his reciprocal tariffs on Wednesday.
Mr Trump’s commerce battle helped gold to its finest quarter since 1986, having climbed in worth by practically a fifth because the begin of the 12 months.
Quasar Elizundia, a researcher at Pepperstone, mentioned: “Gold begins the second quarter of the 12 months from a traditionally sturdy place, supported by financial and geopolitical circumstances that absolutely justify its present attraction.
“The principle driver behind this distinctive gold rally is the rising concern over escalating commerce and geopolitical tensions, largely fueled by latest choices and warnings from US President Donald Trump.”
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