

Gold prices hit new record in global market
Investors
have flocked to gold as a safe haven after US President Donald Trump's harsh
attacks on tariffs and the Federal Reserve. As a result, the price of gold
reached $3,500 per ounce for the first time on Tuesday.
The price of
gold reached a high of $3,500.10 during the day before falling slightly to
$3,467.87. Gold prices have been continuously setting records for the past few
weeks.
The reason
for this is said to be investors seeking safe havens due to the weak dollar and
the fear of a major collapse in the stock market.
The tariffs
imposed by the Trump administration have triggered a trade war between the US
and the world's second largest economy, China. Gold prices have risen by more
than 30 percent since the beginning of this year.
Rania
Gulley, senior market analyst at trading firm XS.com, said, "This rise
reflects fears of a possible recession in the US economy and political
tensions."
Especially
when President Trump is constantly attacking Federal Reserve Chairman Jerome
Powell.
He added,
“Such political pressure and questions about the Fed’s independence are forcing
investors to choose gold as a safe haven in uncertain times.”
On Monday,
President Trump called Fed Chair Powell a “loser” on social media because he
did not cut interest rates.
Trump even
threatened to fire him last week, which has now led to speculation about
whether he could actually do so.
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