Gold has enjoyed its best week in five years, surging to record highs as investors rushed to the safety of one of the few havens left in global markets in the wake of Donald Trump’s tariff blitz.
Bullion climbed more than 6.5 per cent by Friday close, reaching a new high of $3,237 per troy ounce — the biggest weekly gain since the early stages of the Covid-19 pandemic in March 2020.
The rise came as the market panic unleashed by the US President’s trade war caused investors to pull back from US Treasuries, a haven in normal times, as equities nosedived and the dollar fell to three-year lows against the euro.
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