Trade war lifts gold

NERVOUS savers are snapping up gold amid low prices and fears of a global trade war.

Private investors in the US and Europe bought five times as much in the past week as they did a year earlier, trading website Bullionvault said.

On Wednesday alone, they snapped up 81lbs, worth £1.1m. Gold is trading at $1,244.79 per ounce, its lowest level in more than six months – suggesting that although demand is up, overall concern about the global economy is relatively low.

Adrian Ash of Bullionvault said the most direct cause for the rush is the dip in price.