The price of gold has hit a record high as concerns grow over a potential trade war between the US and China. It rose above $3,200 a troy ounce for the first time as investors moved into the so-called “safe-haven” metal due to escalating trade tensions.
The increase was driven by Donald Trump’s decision to raise tariffs on Chinese goods to a whopping 145% while pausing European levies. Although American markets took a hit on Thursday, the FTSE 100 in London made gains of over 3%. Firms and retailers with exposure to the US and Asia, such as JD Sports, made the strongest gains as they welcomes Trump’s pause on tariffs. The London index is expected to open with gains once again on Friday.
THIS IS A LIVE BLOG. SCROLL DOWN FOR UPDATES:
