Bloomberg News: Gold 'Best Place to Be' as Tariff Turmoil Sparks Climb to Record
Article by Yihui Xie in Bloomberg News
Gold rose to a record above $3,200 an ounce as concerns about the impact of tariffs on the global economy boosted bullion’s appeal as a haven for investors.
Prices gained as much as 1.9% to $3,237.89 on Friday, eclipsing the previous all-time high posted Thursday. Prices headed for a weekly increase of about 6%.
Gold’s haven status has been underlined this week, with President Donald Trump’s flip-flopping on tariffs sparking frantic selloffs for US stocks, bonds and the dollar, as fears of a worldwide recession engulfed Wall Street.
Risks and uncertainty persisted even after his .....