TIMES OF UNCERTAINTY
Gold, a haven in times of uncertainty, rose to as much as US$3,004 an ounce before falling back to just under US$3,000.
The precious metal was “boosted on increased haven demand amid trade war risks and recent stock market volatility”, said Fawad Razaqzada, an analyst at City Index and Forex.com.
In the latest salvo, Trump threatened to impose 200 percent tariffs on wine, champagne and other alcoholic beverages from European Union countries.
Wall Street has been hammered in recent sessions by trade tensions, with the S&P 500 slipping into a technical correction Thursday, having fallen more than 10 percent from a record high it hit just last month.
The broad-based S&P 500 finished at 5,638.94, up 2.1 per cent for the day, but down 2.3 per cent for the week.
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