The cost of gold increases above $ 3,000 per ounce amid economic uncertainty

For the first time on Friday gold violated $ 3,000 per ounce Donald Trump Tariff war.

Spot Prices for gold All the time he reached the maximum of $ 3 004.86 at the trade session on Friday before dropping below $ 3,000 when traders were profit.

Gold’s spoil over a historical milestone of $ 3,000 was driven by “return investors who sought the highest active asset, given the pumulation of Trump in the stock markets,” said Tai, an independent metal trader.

Why do prices for gold can reach $ 3,000 despite volatility

For the first time on Friday, gold prices exceeded $ 3,000 per ounce. (Photo by Arne Dedert/Dpa/AFP via Getty Images/Getty Images)

Traditionally regarded as a safe value store during geopolitical upheaval, Gold Bullion has grown by almost 14% so far Trump tariffs and revenge, traded partners-which contributed to the recent sale of the stock market.

“Real executives in a monetary asset, especially in the West, needed a strong stock market and Economic slowing It is scary to get back to gold – and this is going on now, ”said Ole Hansen, head of the goods department at Saxo Bank.

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Gold is traditionally regarded as a safe asset for investors during economic and geopolitical upheavals. (Istock / Istock)

Gold prices were also underpinned by the demand of central banks, and China increases its reserves for the fourth consecutive month in February.

“Central banks continue to purchase gold at the record level, trying to diversify the increasing US dollar,” said Goldcore CEO David Russell.

Expectations that Federal Reserve Return to mitigating its monetary policy in the next few months also helped gold as traders expect a decrease in the interest rate in June in June, CME Fedwatch Tool reports.

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“There are good reasons why the demand for investment is likely to remain reliable … Enhanced geopolitical and geo-economic risk, higher inflation expectations, potentially lower rates and uncertainty,” said Juan Carlos Artigas, the global leader of the World Council.

Reuters contributed to this report.