Gold hits fresh record high over trade war fears

Gold has jumped to a fresh record high as investors fret over the impact of the trade war between the US and China.
Spot gold rose above $3,500 (£2,645) per ounce on Wednesday, before dipping from its peak. It has risen by around 30% since the start of the year.
The latest move comes after the head of US central bank said President Donald Trump’s tariff policies are likely to mean slower growth and higher prices.
The precious metal is viewed as a safer asset for investors during times of economic uncertainty.
Gold is in “full lifeboat mode” as it has become “the most crowded trade on the planet,” Stephen Innes from the SPI Asset Management firm said.

Source: BBC | Language: English