Gold rose to a new record high as concerns about the impact of tariffs on the global economy drove investors to safe havens. Bullion edged higher in early Asian trade on Friday to above $3,190 an ounce. That surpassed a previous record set in the previous session, when it closed more than 3% higher for a second straight day. Gold's safe-haven status has been underscored this week, with President Donald Trump's fluctuating messaging on his tariff agenda triggering panic selling in stocks, bonds and the U.S. dollar, as fears of a global recession hit Wall Street. Risks and uncertainty remain...
The Gold price (XAU/USD) holds positive ground around $3,215 after hitting an all-time high of $3,219 during the Asian trading hours on Friday. The weakening of the US Dollar (USD) and escalating trade war between the United States (US) and China provides some support to the precious metal, a traditional safe haven asset. Data released by the US Bureau of Labor Statistics (BLS) on Thursday revealed that US consumer prices unexpectedly fell in March, but inflation risks are tilted to the upside after US President Donald Trump doubled down on China tariffs. The US CPI inflation eased to 2.4%...
West Texas Intermediate (WTI) crude oil price fell for a second straight session, trading around $59.30 per barrel during Asian hours on Friday. The decline comes amid rising US-China trade tensions, which are clouding the demand outlook. On Thursday, the US announced that tariffs on Chinese imports had surged to 145%, with a new 125% levy added on top of an existing 20% duty. This move overshadowed US President Donald Trump's 90-day pause on tariff hikes for most other countries and heightened concerns about fuel demand from China, the world's largest Oil importer. A prolonged US-China...