Gold Prices Jump To Record High As Tariffs Still Cloud Outlook

SEATTLE (Scrap Monster): Gold prices continued to rally, climbing to a record high Thursday, as worries over the global economy kept investors in safe haven assets. Many gold mining stocks made new highs, too.

Comex gold for April delivery rose $98.70, or 3.2%, to $3,155.20 an ounce. Besides making an all-time high, it was the largest gain since April 9, 2020, the time of the Covid crisis.

Gold prices rose 6.9% over the last three sessions — the largest three-day gain since March 2020, according to Dow Jones Market Data.

Even on Wednesday, as the stock market soared on a pause in tariffs, gold prices remained firm. Gold for April delivery gained $88.10 per ounce, or 3%, to $3,056.50 that day.

SPDR Gold Shares (GLD), an ETF that tracks gold bullion, found support at the 10-week moving average and is up more than 4% for the week. The ETF Thursday added more than 2% in late trading, hitting a new high.

 Courtesy: www.investors.com