Gold is the undisputed winner from this month’s market turmoil.
The precious metal, coveted in times of uncertainty and stress, surged again early Tuesday to a record high, topping $3,500 a troy ounce.
U.S. shares rebounded somewhat in morning trading, with major indexes gaining roughly 1%, while big tech stocks rose, after steep falls in the previous session.
Investors’ concerns over President Trump’s trade war and his threats of firing Federal Reserve Chair Jerome Powell stirred up market volatility Monday, putting the Dow Jones Industrial Average on course for its worst April since 1932. Trump reiterated his demand the Fed cut interest rates, and blasted Powell.
In recent trading:
All three major indexes rose.
Treasury yields edged lower. The 10-year slipped below 4.38%.
Gold futures surged above $3,500 a troy ounce before paring back.
The Cboe Volatility Index retreated to around 32. Wall Street’s “fear gauge” had jumped Monday.
Overseas stocks were mixed. European benchmarks mostly fell. Hong Kong’s Hang Seng Index rose 0.8%, while Japan’s Nikkei 225 ticked lower.
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