Gold futures rise in volatile trading. Futures are up 0.7% at $3,056.50 a troy ounce, having traded as high as $3,084.40/oz and as low as $2,985/oz earlier in the session.
The precious metal has seen significant swings as traders and funds are forced to liquidate holdings to meet margin calls elsewhere in the market, SP Angel analysts say in a note.
The Trump administration is holding firm on its tariff position despite widespread market turmoil. While it is normal for gold to fall in the event of a market collapse, it is always the first instrument to rebound as investors move out of stocks, SP Angel says.
Gold will prove to be the go-to store of value as investors work out which currencies and jurisdictions to move their funds to, analysts add.
Source: Marketwatch
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