Gold price set a record of $ 3,000 per ounce

London
CNN
–

As investors are concerned about President Donald Trump’s fees and geopolitics, gold prices reached $ 3,000 for the first time on Friday, increasing the demand for safe haven assets.

Prices reached 3,005 at 9.04 am.

Jason Hollands, Managing Director of England’s Wealth Manager, Evelyn Barters, described the yellow metal as “panic property” and the recent rise of prices reflected the intense uncertainty of the global trade system that is facing the global trade system at this time from the Trump administration’s false and aggressive approach.

On Wednesday, the latest Trump became a duties of 25% of all imported steel and aluminum imported to the United States, which prompted rapid counter -operations from Canada and the European Union.

Trump raised a large scale on Thursday, which threatened to slap 200% of the fees from the EU, if the 50% fee imposed on the US spirits was canceled.

His administration’s trade policy is also marked by flip-flopping and delays, resulting in uncertainty-free businesses, which are not sure to hire and invest.

Growing up anxiety about economic recession worldwide.

War in Ukraine is another factor in the rule of gold.

“Russia’s rejection of a 30 -day ceasefire created by the United States in Ukraine has reconsidered geopolitical instincts,” said Victoria Kusak, a businessman Sukan Fannazel’s research analyst.

On Thursday, Russian President Vladimir Putin questioned the American-standard project, set up severe conditions and demanded concessions from Kievid.

The painted war has been confirmed for gold prices for a long time.

Trever Greece, a senior investor of the Royal London Asset Management, noted that prices have increased by 60% from the invasion of 2022 Ukraine. “Central banks, including China’s People’s Bank, have added their (gold) reserves rather than capturing foreign reserves as it happened to Russia,” he said.

Hollands at Evelyn Partners said another tailvind for gold prices was recently weakening the dollar. Price is priced in gold dollars, so weak green pack is very impressed for buyers outside the United States.