Gold price hits record $3,000 per ounce
1 week, 2 days ago

Gold price hits record $3,000 per ounce

CNN  

London CNN — Gold prices reached $3,000 an ounce for the first time in history Friday, boosted by demand for safe-haven assets as investors fret about President Donald Trump’s tariffs and geopolitics. Jason Hollands, managing director at Evelyn Partners, a UK wealth manager, described the yellow metal as “the panic asset of choice” and said the latest rise in prices reflected “the extreme uncertainty facing the global trade system at the moment from the Trump administration’s erratic and aggressive approach to tariffs and corresponding retaliatory measures.” The surging price of gold is among several signs that investors are concerned about America’s economic outlook, former Treasury Secretary Larry Summers told CNN on Friday. “It’s a sign of the amount of uncertainty that’s being created that amidst everything else, the asset that’s done well is gold,” Summers told CNN’s Pamela Brown and Wolf Blitzer. “Russia’s rejection of the US-proposed 30-day ceasefire in Ukraine has reignited geopolitical instability,” said Viktoria Kuszak, a research analyst at Sucden Financial, a trading firm.

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