Insignia Consultants | Gold hovers near all-time highs as Trump's tariff threats lift safe-haven demand
Gold hovers near all-time highs as Trump's tariff threats lift safe-haven demand
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Gold firmed on Monday and hovered near a record high hit in the previous session, as investors sought refuge in the safe-haven asset after U.S. President Donald Trump's fresh tariff plans sparked fears of a global trade war.
Spot gold was up 0.5% at $2,875.79 per ounce as of 0403 GMT, after hitting a record high of $2,886.62 on Friday.
U.S. gold futures rose 0.5% to $2,902.40.
Trump on Sunday said he will announce new 25% tariffs on Monday on all steel and aluminium imports into the U.S., which would come on top of existing metal duties in another major escalation of his trade policy overhaul.
