Gold rose to a new record high above $3,200 an ounce on Friday as concerns about the impact of tariffs on the global economy boosted bullion's appeal as a haven for investors.
Gold's safe-haven status has been bolstered this week, with President Donald Trump's U-turn on tariffs sparking a panic sell-off in stocks, bonds and the U.S. dollar as fears of a global recession gripped Wall Street. In particular, the sell-off in U.S. Treasury bonds highlighted the declining appetite for U.S. assets and raised questions about whether the country's debt remains a safe haven.
Source: Newsmaker.id
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