Gold Hits New Record As Stocks Fall And Bond Yields Jump

(MENAFN- Yolo Wire) The price of %Gold (TVC: $GOLD) has hit a new all-time high as stocks fall and bond yields rise amid growing concerns over U.S. tariffs and macroeconomic uncertainty.

Gold futures are up nearly 1% at $3,548.70 U.S. an ounce. Overnight, the price of bullion reached an intraday record of just over $3,578 U.S. per ounce, according to market data.

Gold's price has now risen 34% this year, driven by a combination of central bank buying and uncertainty related to America's tariff regime.

The continued rise in gold's price is also lifting the stocks of gold miners.

Shares of %Newmont (NYSE: $NEM) are up 1.5% in premarket trading on Sept. 2. %BarrickMining (NYSE: $B) stock is up 1.5%, while %AgnicoEagleMines (NYSE: $AEM) is trading 2% higher.

The latest jump in gold's price comes as U.S. Treasury yields spike after a court ruled that most of President Donald Trump's tariffs are illegal, raising the prospect of the American government having to repay the money.

The benchmark 10-year U.S. Treasury yield is up more than six-basis points at 4.287% on Sept. 2, while the 30-year bond yield has climbed to 4.978%.

The increase in Treasury yields has sent U.S. stocks lower, with the benchmark S&P 500 index down 0.78% and the technology-heavy Nasdaq index down 1% or 235 points.

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