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Safe-Haven Gold Soars Past $3,080 Amid Growing Trade War Concerns

Safe-Haven Gold Soars Past $3,080 Amid Growing Trade War Concerns

Gold has hit a record high of $3,086.21 an ounce as investors seek safety amid trade tensions following President Trump’s upcoming April 2 reciprocal tariffs. These measures have sparked concerns about inflation, slower economic growth, and trade conflicts.

Heading for its fourth consecutive weekly gain, gold’s rise is fueled by safe-haven demand, central bank buying in Asia, and growing institutional investment in gold-backed ETFs. Ole Hansen of Saxo Bank notes gold’s enduring value as a wealth preserver during market turbulence. Investors are watching upcoming U.S. inflation data for Federal Reserve policy clues, with analyst Alexander Zumpfe projecting gold could reach $3,200-$3,250 soon if current conditions persist.

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