Gold ‘Best Place to Be’ as Tariff Turmoil Sparks Climb to Record

Gold rose to a new record high above $3,200 an ounce as concerns about the impact of tariffs on the global economy boosted bullion’s appeal as a haven for investors.

Prices gained as much as 2.1% to $3,244.15 on Friday, eclipsing the previous all-time high posted Thursday. Prices are heading for a weekly increase of more than 6%.

Gold’s haven status has been underpinned this week, with President Donald Trump’s flip-flopping on tariffs sparking frantic selloffs for US stocks, bonds and the dollar, as fears of a worldwide recession engulfed Wall Street. In particular, the selloff in US government ...