Gold recorded its best week in nearly 20 years and the dollar its worst since May, after the Greenland crisis sent investors looking for safe alternatives to the US currency amid renewed concerns over erratic White House policymaking.
The precious metal hit a record high of almost $5,000 a troy ounce on Friday, while silver rose above $100 an ounce for the first time.
“The world is hedging against continued uncertainty,” said analyst Rhona O’Connell at StoneX. “In the febrile times, gold is maintaining its role as the asset of last resort.”
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