Gold hits $3,000 for first time on global growth fears

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Troy ounce has reached a higher record per gold in the threat of global growth from Donald Trump’s trade war, pushed investors’ safe Haven Metal.

Troy ounces in the trades early Friday rose to $ 3,004 per Booleion. Gold has been among the best performance resources in the world since Trump took over in January and he has increased by 5 percent since the beginning of the year.

The rapidly changing tariff policies of the US President have caused concern that a World Trade War will increase inflation and will create an economic downturn in the United States and beyond that, thereby amended and connected to Wall Street’s stocks GoldIts application.

Expect to cut interest rates by the United States Federal reserve Booled also booked, which usually benefits from the cost of taking less orrow as a non-duty asset.

“Both institutional and private investors are turning their portfolios to hedge against economic turmoil,” said Alexander Jumpf, a senior valuable metal businessman from Harias.

“Physical gold market is feeling especially in Germany, where precious metals have long been valuable as protection against the economic crisis,” he added.

Anxiety that Trump could keep a tariff on Booleon has driven the unprecedented enthusiasm of the gold bar in New York, where the comx’s reserves have reached the record level.

Since Trump was elected, more than $ 70 billion gold flowed to New York, though recently the flow began to slow down.

This year’s unexpected enthusiasm for gold prices has sent investment bank racing to correction their price. At least four banks – City Bank, Goldman Shutches, McCuri and RBC – have increased their prices forecast in recent weeks.