Investors are pouring cash into gold funds at the fastest pace since the Covid-19 pandemic, amid mounting concerns over the economic impact of US President Donald Trump’s tariff war.
Gold reached a record $3,148.88 a troy ounce on Tuesday, taking gains this year to 19 per cent — after its strongest quarterly performance since 1986 — as part of a broader flight to haven assets such as US Treasuries and cash.
Investors are bracing themselves for Trump’s expansive new tariffs, which are due to be announced on Wednesday, a day he has dubbed “liberation day”. Many economists fear the move will hit global growth, triggering a search for safe assets.
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