Insignia Consultants | Gold hits record high on safe-haven demand amid tariff threats
Gold hits record high on safe-haven demand amid tariff threats
6 hours ago
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Jan 30 (Reuters) - Gold prices rose to hit a lifetime high on Thursday, sparked by safe-haven demand due to U.S. tariff threats, while the focus was also on a crucial inflation report for clues on the Federal Reserve's policy path.
Spot gold was up 1.4% at $2,796.15 per ounce, as of 11:07 a.m. (1603 GMT), hitting its record high level at $2798.24 earlier in the session. U.S. gold futures climbed 2% to $2,824.
"We are seeing keener uncertainty and anxiety about the Trump administration's new policies on trade and foreign policy ... fresh technical buying coming in as prices are trending higher now in both gold and silver," said Jim Wyckoff, a senior market analyst at Kitco Metals.
