Thu, 17 Apr 2025

Thu, 17 Apr 2025 Gold hits fresh record high over trade war impact fears

It comes after the head of US central bank said Trump's tariff policies are likely to mean slower growth and higher prices.

* Gold reached a new record high at $3,357.40 per ounce on Wednesday due to concerns over the US-China trade war.
* Investors are flocking to gold as a safe-haven asset amid economic uncertainty and inflation fears triggered by the trade tensions.
* Federal Reserve Chair Jerome Powell said the tariffs announced by President Trump's administration will likely lead to slower growth and higher prices.
* Gold has risen by around 30% since the start of the year, with analysts comparing this year's rally to the Iranian Revolution in the late 1970s.
* Investors are seeking "real" assets as they lose faith in policies driven by political discretion, according to Stephen Innes from SPI Asset Management.
* The introduction of tariffs has fueled fears of inflation, driving investors towards safe-haven assets like gold.
* US-China trade tensions have led to uncertainty over the impact on global markets, with some companies already feeling the effects of the tariffs.
  >>