Gold marches higher as Trump’s tariff threat boosts demand

News Snapshot:

Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting. Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2 per cent at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT). A weaker dollar makes bullion more expensive for buyers holding other currencies. U.S. gold futures fell 0.1 per cent to $2,945.50. “We are in a state of unusual-heightened uncertainty... the catalyst is the tariffs and...