Gold futures hit a record high early Friday, exceeding $3,000 an ounce for the first time.
Prices of the precious metal are up 14% since the start of the year and 39% over the past 12 months. That’s an impressive performance for an asset that doesn’t provide any income.
There are many reasons why people might be buying. President Donald Trump’s tariffs are upending stock markets, and gold is usually seen as a safe haven.