New record: Gold never more expensive
Spot gold has surpassed the magical threshold of $3,300 per ounce for the first time.
The precious metal has extended its gains and has just reached $3,307 per ounce, marking a 2.4 percent increase on the day, as investors rush to invest in "safe havens."
Trump's trade war shows no signs of easing after the president ordered potential tariffs and an investigation into critical minerals, semiconductors, and pharmaceutical products, prompting a renewed shift toward safe havens such as gold, said the head of strategy at Saxo Bank, Ole Hansen.
Financial firm ANZ has today raised its year-end gold price forecast to $3,600 per ounce and its six-month forecast to $3,500.
