Gold touches record high as Trump tariffs fuel safe-haven demand

Anushree Ashish Mukherjee - Reuters - 28/03
Gold scaled a record peak on Friday as U.S. President Donald Trump's fresh tariffs fuelled fears that the global trade war will further intensify and prompted investors to seek refuge in the safe-haven metal.
  • $3,100/oz is the next big milestone for gold, analyst says
  • Countries vow trade response if Trump enacts new auto tariffs
  • US Personal Consumption Expenditures data due later in the day
March 28 (Reuters) - Gold scaled a record peak on Friday as U.S. President Donald Trump's fresh tariffs fuelled fears that the global trade war will further intensify and prompted investors to seek refuge in the safe-haven metal.
Spot gold climbed 0.9% to $3,083.33 an ounce as of 0710 GMT after hitting an all-time high of $3,086.21 earlier in the session. Bullion is up 2% this week and is on track for a fourth straight weekly gain.

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U.S. gold futures added 1% to $3,092.50.
"Gold has the wind at its back at the moment. U.S. trade policy, U.S. fiscal policy, geopolitics and a growth slowdown - everything is blowing in gold's direction," Capital.com's financial market analyst Kyle Rodda said, adding that $3,100/oz is the next big milestone.
Uncertainty around tariffs, potential for interest rate cuts...
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