Gold prices rose on Friday, marking a seventh consecutive weekly gain, as concerns over a potential global trade war intensified following U.S. President Donald Trump’s push for reciprocal tariffs. Spot gold reached $2,927.50 per ounce, nearing record highs, while U.S. gold futures climbed 0.4%.
The uncertainty surrounding trade policies has fueled demand for gold as a safe-haven asset. Major banks, including JPMorgan Chase and HSBC, are reportedly moving gold bars across the Atlantic to take advantage of price discrepancies between markets. Analysts predict gold could soon surpass the $3,000 mark.
