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Gold rises to record as trade war concerns drive haven demand

From bnnbloomberg.ca

Gold rose to a record as concerns about a widening trade war remained front of mind for investors, after U.S. President Donald Trump pushed ahead with U.S. tariffs on all auto imports. Bullion gained as much as 0.7% on Friday to an all-time high of more than $3,077 an ounce, beating the previous record set Thursday. It was on track for a fourth weekly gain, with prices supported by growing haven demand. Trump on Thursday signed a proclamation to implement a 25% tariff on auto imports and pledged harsher punishment on the EU and Canada if they join forces “to do economic harm” against the US. Markets are also bracing ... (full story)

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  • Category: Fundamental Analysis