Gold Gains as It Rediscovers Haven Appeal on Trade-War Fears.

Gold climbed, snapping a three-day slump, amid fears that an increasingly hostile trade war could cause a global economic downturn.

The precious metal rose back above $3,000 an ounce, after shedding almost 5% over the prior three days, the worst such drop since 2021. In his latest move, President Donald Trump threatened to slap an additional 50% levy on Chinese imports, while Beijing responded by saying it’s prepared to “fight to the end.”

Bullion rallied this year — setting successive records and luring inflows to exchange-traded funds — as the prospect of widespread economic disruption fanned haven demand. But gold was also caught up in the turmoil that saw global markets sell off sharply in the previous few days, as can happen during periods of extreme dislocation as investors seek to cover losses elsewhere.

Gold for immediate delivery added 1% to $3,011.49 an ounce by 12:48 p.m. in London. Silver, palladium and platinum also climbed. The Bloomberg Dollar Spot Index fell 0.3%.

Source: Finance.Yahoo