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Gold rallies to record on trade war concerns and weaker dollar

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Bullion for immediate delivery climbed above $3,364 an ounce, as the dollar fell.
Gold prices surged to an all-time high, driven by escalating trade tensions between the U.S. and China, as well as a weakening U.S. dollar. Investors, seeking safe-haven assets amid fears of a global economic slowdown, propelled gold prices up by 1.5% to $1,510.70 per ounce. The trade war concerns were heightened by new tariffs imposed by the U.S. on Chinese goods, prompting China to retaliate with its own tariffs. Additionally, the anticipation of potential interest rate cuts by the Federal Reserve contributed to the dollar's decline, further boosting gold's appeal as an investment.

Read the Full Fortune Article at:
[ https://fortune.com/article/gold-rallies-to-record-on-trade-war-concerns-and-weaker-dollar/ ]