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BENGALURU- Gold prices surged to a record high on Friday, as investors flocked to the safe-haven asset amid fears of a global trade war triggered by US President Donald Trump’s latest tariffs.
Spot gold climbed 0.6 percent to $3,074.43 an ounce after hitting its eighteenth record high this year at $3,086.70 earlier in the session. Bullion is up 1.7 percent this week and is on track for a fourth straight weekly gain.
US gold futures settled 0.8 percent higher at $3,114.30.
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“It continues to be the safe-haven demand on ramped-up concerns about tariffs, trade and ongoing geopolitical uncertainty as well,” that is supporting gold, said Peter Grant, vice president and senior metals strategist at Zaner Metals.
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