Gold prices climbed above $4,200 a troy ounce, hitting a fresh record as the U.S.-China trade standoff and growing expectations of further interest-rate cuts boost demand for precious metals.
In early trade, futures in New York rose 1.3% to $4,217.20 an ounce after reaching $4.218.20 earlier in the session, while spot gold is up 0.8% to $4,142.63.
Investors are piling into gold as a hedge against geopolitical uncertainty, with trade tensions between Washington and Beijing and a prolonged U.S. government shutdown in focus.
add a comment
