Gold prices near record high amid trade tensions

Gold prices rose close to last week’s record high on Thursday following US President Donald Trump‘s announcement of new tariffs on auto imports, intensifying global trade tensions and boosting safe-haven demand for gold.

As of 12:49 PM GMT, spot gold edged up 1.02 per cent to $3,050.12 per ounce, higher than its previous close of $3,019.28. Meanwhile, US gold futures fell 1.20 per cent to $3,088.90 per ounce, down from Wednesday’s closing price of $3,052.3.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser