Commodities
Gold Hits Fresh Record on Haven Demand as Tightness Persists
- Concerns over trade wars have bolstered haven buying
- Recent jump in lease rates indicates tighter gold market
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Gold pared gains from a new all-time high, as trade-war worries bolstered haven demand and there were continued signs of short-term tightness in the market.
Bullion rallied as much as 1.4% to exceed $2,882.36 an ounce before paring some gains after Bloomberg reported that US allies expect President Donald Trump’s administration to present a long-awaited plan to end Russia’s war on Ukraine at the Munich Security Conference in Germany next week.