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Gold has grown to a record $ 3,000 in the UNCE Troy, because the fear of threat of global growth since Donald Trump’s trade, pushing investors into Metal Safe Haven.
The lever price increased to $ 3,004 per ounce at early trading on Friday. Gold has been among the world’s best property since Trump has taken his post in January and has increased by 14 percent since the beginning of the year.
The US President’s tariff politics aroused the concern that the global trade war will stimulate inflation and cause economic slowdown in the US and beyond, causing the Wall Street supplies to fall into correction and add goldattractiveness.
Expectations of decreasing interest rates by USA Federal reserves They have also been pushing the levers, which, as assets that do not usually benefit, benefits from lower borrowing costs.
“Both institutional and private investors are turning to gold to protect their portfolio against economic turbulence,” said Alexander Zumpfe, an older merchant of noble metals in Heraeus.
“The physical gold market is experiencing strong demand, especially in Germany, where noble metals have long been appreciated as protection against economic crises,” he added.
The concern that Trump could put the tariffs on the levers led to an unprecedented Golden basses in New York, where the records on Comex reached record levels.
Ever since Trump was elected, more than $ 70 billion in gold had flew to New York, although this stream recently began to slow down.
An unexpected increase in gold prices this year sent an investment bank of the race to revise their prices forecasts. At least four banks – Citibank, Goldman Sachs, Macquarie and RBC – have increased their prices in recent weeks.
