Rising fears that another US shutdown looms pushes gold price to new height amid nearly 90% rise since Trump’s inauguration
Gold has jumped above US$5,000 an ounce for the first time, as Donald Trump’s chaotic policies and proclamations drive more investors to seek safe harbour in the precious metal.
The price of the yellow metal jumped 1.8% to $5,078 an ounce on Monday, according to Bloomberg.
The historic moment came as Trump threatened Canada with 100% tariffs if America’s northern neighbour “makes a deal with China”, and after the US president’s dramatic showdown with Europe over the future of Greenland.
With global financial markets already jittery, there are also rising fears of another US shutdown after Democrats threatened funding for the Department of Homeland Security in the wake of the weekend shooting of a man in Minneapolis by federal immigration agents.
