Gold smashes $1,900/oz barrier as Sino-U.S. row drives flight to safety – ZAWYA

Gold smashes $1,900/oz barrier as Sino-U.S. row drives flight to safety – ZAWYA

Safe-haven gold pierced the $1,900 per ounce ceiling on friday for the first time since 2011 as a worsening u.s.-china row added to fears over the hit to a global economy already reeling from the coronavirus pandemic.spot gold climbed 0.7% to $1,899.68 per ounce by 2:00 p.m. edt (1800 gmt), after hitting $1,905.99, the highest since september 2011.prices were set to gain 5% for the week, their best since week ended march 27.spot gold climbed 0.7% to $1,899.68 per ounce by 2:00 p.m. edt (1800 gmt), after hitting $1,905.99, the highest since september 2011.safe-haven gold pierced the $1,900 per ounce ceiling on friday for the first time since 2011 as a worsening u.s.-china row added to fears over the hit to a global economy already reeling from the coronavirus pandemic.prices were set to gain 5% for the week, their best since week ended march 27.u.s. gold futures gcv1 settled up 0.4% at $1,897.5."concerns about more global economic slowing due to the increasingly acerbic u.s.-china spat is seen as likely to keep global government and monetary support going even longer," said tai wong, head of base and precious metals derivatives trading at bmo.in yet another escalation, china ordered the united states