[Everything Everywhere]

Investing.com-- Gold prices hit a record high in Asian trade on Friday, extending recent gains amid heightened safe haven demand after U.S. President Donald Trump imposed steep tariffs on the automobile sector.

Investors were also bracing for a potentially hotter PCE price index reading later in the day. The print is the Federal Reserve’s preferred inflation gauge, and is expected to factor into expectations for future interest rate cuts.

Gold was sitting on bumper gains through March, having benefited from deteriorating risk appetite as markets fretted over Trump’s tariffs and the threat of a U.S. recession. Geopolitical tensions between Russia and Ukraine, as well as a breakdown in the Israel-Hamas ceasefire fueled haven demand.

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Near? What is near?

[Alice Alicia]

Gold outperform the SP500.