Gold Reaches New High as Chinese Demand Spikes, Trump Attacks Fed
On Monday, gold continued its upward climb beyond the $3,300 mark to reach fresh record levels beyond $3,400 on the Comex in New York. UK bullion markets remained closed on Monday due to the Easter holiday. Bullion reached new price highs in China in what many analysts referred to as the “Chinese frenzy” for gold. Gold recorded its eighth straight high hitting $109.7 (800 yuan) for each gram. President Trump also launched an attack against Jerome Powell, the U.S. Fed chair, complaining about the Fed’s delay to make further interest rate cuts as the possibility of higher inflation increased amid…