Gold hits record high as Trump tariffs trigger US-China trade war fears

BBC, Apr.11: Gold has risen to a record high as investors are flocking to safe-haven assets, as concerns over the trade war between Washington and Beijing deepen.

It comes after Asian stocks slid on Friday, with the Nikkei tumbling by more than 4%.

US stocks slumped on Thursday, wiping out a chunk of Wednesday's historic rally.

The White House had earlier on Thursday said China faced a tariff rate of 145%, clarifying that China also faced a 20% pre-existing levy over fentanyl.

Despite this, Trump said he was still hoping to secure a deal with Beijing, saying they would "end up working something out that's very good for both countries".

Beijing had earlier on Thursday announced an 84% tariff on US goods entering the country.