Gold prices scaled an all-time high on Friday, briefly touching the $2,800 mark, as market participants rushed to the safe-haven asset after U.S. President Donald Trump reiterated his tariff threats.
Spot gold steadied at $2,795.52 per ounce, after hitting a record peak of $2,800.99 earlier in the session. Prices rose more than 6% for the month and 1% for the week.
U.S. gold futures were little changed at $2,820.10.
More.
PM Update:
Gold prices surpassed the key $2,800 mark for the first time ever on Friday, fuelled by a rush to safety on U.S. President Donald Trump’s tariff threats, which heightened concerns about global economic growth and inflationary pressures.
Spot gold rose 0.6% to $2,810.55 per ounce, after hitting a record high of $2,817.23 earlier in the session.
U.S. gold futures were little changed at $2,822.90, trading at a premium to spot gold rates.
