As global economic uncertainty rises, investors are increasingly turning to gold as a safe haven, driving its value close to record highs.
“Gold has always been a safe haven… investors are clearly a bit worried about the economic situation around the world, and they’re flocking to gold again,” Business Reporter Ed Boyd said.
This trend is fueled by concerns from some US Federal Reserve board members about America’s economic situation and fears of a shallow recession.“It’s probably going to reach this record high over the next couple of days and could keep rising throughout the rest of this year as the economic uncertainty continues,” he said.
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