Commodities
Gold Breaks $3,300 as Expanding Trade War Bolsters Haven Demand
WATCH: Can gold sustain its momentum?
Source: BloombergThis article is for subscribers only.
Gold surged to a fresh high on haven demand as the dollar fell and tech stocks slumped after US President Donald Trump ordered a probe that could open up a new front in the global trade war.
Bullion gained as much as 3.2% on Wednesday to climb above $3,300 an ounce for the first time, surpassing the previous record set on Monday. The dollar fell to a fresh six-month low as traders were whiplashed again by a slew of tariff headlines, with Trump launching an investigation into the need for levies on critical minerals.