Commodities
Gold Rises to Fresh Record as Trump Tariffs Trigger Haven Demand
- US policies threatening to start growth-sapping trade wars
- Bullion has year-to-date advance of more than 7% this year
This article is for subscribers only.
Gold rose to a new all-time high amid a rush to safer assets after US President Donald Trump imposed tariffs on Canada, Mexico and China, while threatening to do the same against the European Union.
Bullion advanced as much as 1.2% to $2,830.74 an ounce, surpassing the previous record reached Friday, before paring gains after Trump agreed to delay tariffs against Mexico for a month following a talk with his Mexican counterpart. Investors still parked their money in havens such as gold and the Japanese yen on concerns of the impact of Trump’s measures on the global economy and monetary policy, while global stocks and crypto currencies slumped.