New York futures gold first broke $3,100, refreshing the historical high for the 17th time this year
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Due to the escalation of global trade tensions and a significant decline in the stock market, the gold market has seen strong safe-haven buying. COMEX gold futures for June contracts have surpassed USD 3,100 per ounce, setting a new historical high and marking the 17th record this year. Trump's announcement of a 25% tariff on imported cars has raised concerns about global trade friction, prompting investors to turn to safe-haven assets like gold. The Federal Reserve has maintained interest rates, suggesting a possible rate cut, which further supports gold prices. The market expects that gold still has the potential for new highs
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