Gold Shines Amidst Tariff Turbulence: A Safe Haven Resurgence

Gold hits a record high as global shares dip due to tariff concerns from U.S. President Donald Trump's decisions. U.S. market indices fall sharply, with gold acting as a refuge against inflation, geopolitical tensions, and fiscal risks. Meanwhile, oil prices remain flat amid global economic uncertainty.

Gold reached a new record high on Friday as global stock markets faced pressure due to escalating trade war concerns stemming from U.S. President Donald Trump's tariff announcements. Another factor fueling market unease was the latest sticky inflation data.

The Dow Jones, S&P 500, and Nasdaq all registered losses, marking their third consecutive decline. In Europe, the STOXX 600 index also fell, driven by a significant dip in the automotive sector.

Safe-haven gold climbed to $3,086.70 per ounce, buoyed by trade war anxieties. Oil prices remained steady while currency markets reacted to looming economic uncertainties globally.

(With inputs from agencies.)