Financial market
Gold price cracks records of $ 3,000
In uncertain times, investors are drawn to the “safe harbor” gold. The price of the precious metal increases and rises.
The gold price continued its high and broken the record mark of $ 3,000. Geopolitical risks and an escalating customs dispute ensure a high demand for the safe investment port gold. On Friday morning, the listing for a troy ounce (about 31.1 grams) on the stock exchange in London rose to $ 3,001.20 and thus more than ever.
During the course of the trade week, the high -rise continued speed, with the precious metal since Monday by more than $ 80 per ounce. Safe investment ports are more in demand on the financial markets after there seems to be no breakthrough in the efforts to be ceasefire in the Ukraine War.
An essential driver of the gold price is also concerned about the consequences of the aggressive customs policy of the new US government. Since Donald Trump took office in January, the precious metal has gained more than ten percent of value.
According to market strategists from the IG Asia trading house, mutual tariffs could trigger another wave of market turbulence in the coming months. Gold therefore remains an attractive safe harbor in an environment in which alternatives are scarce.
dpa
Source: Stern
