Banks are increasingly confident that Trump’s disruptive trade policies, coupled with other concerns, will drive further gains in gold. This week, Macquarie Group forecast for a spike to $3,500 an ounce in the second quarter, while BNP Paribas SA raised its outlook to show average prices well above $3,000.
Bullion climbed to $2,990.21 an ounce, eclipsing all-time highs set on Thursday and earlier Friday.
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