By Izzy A
Gold prices remained close to record highs as global investors sought safety amid renewed trade war concerns sparked by U.S. political tensions and threats over Greenland, which have dampened market sentiment this week. Spot gold traded near its previous peak while silver also stayed close to record levels, reflecting ongoing demand for precious metals as a hedge against economic uncertainty.
Gold nears record levels with safe-haven demand up on trade war risk
Analysts said the pull toward gold and silver was fueled by risk aversion from heightened geopolitical tensions, including possible trade disputes between major economies and broader concerns over global growth prospects. With the U.S. dollar weakening, precious metals became more attractive to investors seeking protection from currency and market volatility.
The extended strength in metals markets comes as traders eye forthcoming policy moves and global leadership discussions at events like the World Economic Forum, where economic risks and international cooperation often take centre stage. Continued uncertainty could keep gold prices supported in the near term.
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