Gold futures rise, benefiting from market uncertainty. Futures are up 1.6% at $3,127.20 a troy ounce, nearing its all-time record of $3,201.60 an ounce, set in early April.
The precious metal was sharply sold off as investors liquidated positions to cover losses elsewhere after President Trump's "Liberation Day" tariff announcements, but has since mounted a strong rally on the ensuing uncertainty.
Trump hiked Chinese tariffs to 125% on Wednesday and announced a 90-day suspension of the so-called reciprocal tariffs for other countries, adding to the confusion and further boosting safe-haven demand for gold.
If U.S.-China trade tensions persist or extend to other major partners, gold prices could continue pushing toward fresh highs--especially with geopolitical risks, inflation and monetary uncertainty in the picture, XS.com's Linh Tran says.
Source: Marketwatch
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