Gold Gains as It Rediscovers Haven Appeal on Trade-War Fears

The precious metallic roseate backmost supra $3,000 an ounce, aft shedding astir 5% implicit the anterior 3 days, the worst specified driblet since 2021. In his latest move, President Donald Trump threatened to slap an further 50% levy connected Chinese imports, portion Beijing responded by saying it’s prepared to “fight to the end.”

Bullion rallied this twelvemonth — mounting successive records and luring inflows to exchange-traded funds — arsenic the imaginable of wide economical disruption fanned haven demand. But golden was besides caught up successful the turmoil that saw planetary markets merchantability disconnected sharply successful the erstwhile fewer days, arsenic tin hap during periods of utmost dislocation arsenic investors question to screen losses elsewhere.

Gold for contiguous transportation added 1% to $3,011.49 an ounce by 12:48 p.m. successful London. Silver, palladium and platinum besides climbed. The Bloomberg Dollar Spot Index fell 0.3%.

--With assistance from Mark Burton.

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