Gold prices soar to record high fueled by safe-haven demand
Gold prices surged to a record high on Thursday, as fears of a global trade war sparked by U.S. President Donald Trump's tariff threats fueled safe-haven demand for the precious metal. Spot gold rose 0.1% to $2,936.38 an ounce as of 02:36 p.m. ET (1936 GMT), hitting $2,954.69 earlier in the session — its tenth record high so far this year. The uptrend is supported by central bank buying and ETF flows into the gold market.
- The growing reliance on safe-haven assets during times of global uncertainty highlights the need for policymakers to develop more effective strategies for mitigating economic shocks.
- How will the ongoing trade tensions and rising inflation concerns impact the long-term sustainability of gold's status as a store of value in a rapidly changing monetary landscape?