Gold price rises above $3,000 an ounce for first time amid economic uncertainty

Gold broke the capacity of an ounce of $ 3,000 for the first time on Friday, as investors sparked a safe assets of the armed armed, amid the escalating economic uncertainty due to President Donald Trump’s war.

The instant gold prices reached the highest level at all times, which amounted to 3,004.86 dollars earlier in the trading session on Friday before returning to less than the level of $ 3000, where traders got profits.

Tai Won, an independent mineral dealer, said that the increase of the Gold over the historic landmark of $ 3,000 was driven by “trapped investors seeking assets ultimately safe armed considering Trump’s disturbance on stock markets.”

Why gold prices can reach $ 3,000 despite volatility

Instant gold prices exceeded $ 3,000 an ounce for the first time ever on Friday. (Imaging ARNE DEDERT/DPA/AFP via Getty Images/Getty Images)

It is traditionally seen as a safe store of value during geopolitical turmoil, Gold Bullion has increased by 14 % so far this year, and has partially defended concerns about the effect of Trump’s tariff and its revenge by the trading partners-which contributed to the sale of recent stocks.

“The real money managers, especially in the West, needed a strong stock market and intimidating the economic slowdown to return to gold – and this is now happening,” said Oli Hansen, head of the commodity strategy at Saksu Bank.

Why the banks fly gold bars on commercial trips from London to New York City?

Gold is traditionally seen as one of the safe assets of investors during times of economic and geographical turmoil. (Istock / Istock)

Gold prices were also strengthened through demand from central banks, as China strengthened its reserves for the fourth month in a row in February.

“Central banks are continuing the surveys at the standard gold level, they seek to diversify away from the increasing US dollar,” said David Russell, CEO of Goldkar.

The expectations that the Federal Reserve will return will return to its monetary policy in the next few months, also helped gold, as merchants expect to resume interest rate discounts in June, according to the CME Fedwatch tool.

Get Fox Business on the Go by clicking here

“There are good reasons for the reason that the demand for investment remains strong … increasing geological and geological economic risks, high inflation expectations, high rates and uncertainty that market feels,” said Juan Carlos Artgas, head of World Gold Research, World Gold Council.

Reuters contributed to this report.