Gold prices hit a record high on Friday as concerns about President Donald Trump’s potential tariffs on foreign nations fueled investor interest in the bullion.
In early morning trade on Friday, spot gold prices breached the $2,800 per oz. level, hitting an all-time high of $2,807.59 before slightly coming down to $2,804.71 as of 08:10 a.m. ET. Earlier on Jan. 30, spot gold had risen by nearly 1.4 percent after opening at around $2,757. On Thursday.
Trump said he plans on imposing tariffs on Mexican and Canadian imports beginning Feb. 1.
“I’ll be putting the tariff of 25 percent on Canada and Mexico, and we will really have to do that because we have very big deficits with those countries,” Trump told reporters at the Oval Office, adding that “those tariffs may or may not rise with time.”…