Aussies race to stores as gold skyrockets
Aussies race to stores as gold skyrockets
#gold #stockmarket #usa #tarrifs
The price of gold has surged to a record high overnight, hitting $4,000 per troy ounce for the first time.
The metal’s price has risen by more than 50 per cent this year. Donald Trump’s erratic tariffs have shaken investors’ confidence in the US dollar and banking system. That concern has hit fever pitch this week over fears of lingering inflation in America, after the Federal Reserve indicated it would lower interest rates.
“Gold has benefited from multiple catalysts this year, including tariff uncertainty, stubborn inflation, and a falling US dollar,” said analyst Bret Kenwell at eToro. “Uncertainty around the government shutdown and prospects of lower interest rates have only seemed to fan the flames of this year’s rally,” he added
Meanwhile, Wall Street stocks dropped again on Tuesday as investors weighed the US government shutdown and political turmoil in France.
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