Global investors rush to security rushed to gold Tuesday, pushing its price to a record of $ 3,500 per ounce, while concerns are mounting about the trade war of President Trump and his in -depth anger towards the president of the federal reserve, Jerome H. Powell.
Gold established a series of records during a ugly ugly for the markets. His latest peak came after a particularly difficult day at Wall Street, when investors have poured shares, sold American cash bonds and reduced their exposure to the dollar, which lowers its value against most other important currencies.
Gold is often sought after by investors as a safe refuge during troubles, and its price has increased by more than 30% since the start of the year.
“Gold has again moved to another record, with its brilliant security reputation,” said RBC Capital Markets analysts. “With the uncertainty linked to the independence of the Fed, gold continues to benefit as a safe Haven and not linked to the US dollar.”
Gold has soamed since the beginning of April when investors, alarmed by Mr. Trump’s prices, starting to sell cash bonds. Tuesday, the cash price of an ounce of gold Troy briefly reached $ 3,500 before sliding lower.
Elsewhere on the markets:
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The S&P 500 increased by 1% at the start of trading, reversing part of the sale on Monday. European and Asian markets were far lower on Tuesday.
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The dollar, which collapsed on Monday against a range of currencies, had another turbulent day, losing ground against the yen but restoring itself against the euro. The dollar fell against the British book for 10 consecutive days; An 11th Tuesday would be the longest sequence since at least 1971, according to Bloomberg.
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The yield on the bonds of the treasury at 10 years has dropped slightly, at 4.38%.
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The Trump administration’s rabbit stroke on trade policy continues to stimulate volatility on the markets and weigh on businesses. “The level of uncertainty is too high. It is not productive,” David Solomon, general manager of Goldman Sachs said on Tuesday in an interview with CNBC. “This affects expenditure and investment planning, and it will have an effect on the growth of the economy,” he added.
