Investors Rushing to Gold And Bonds As Stock Market Continue Tumbling

 -Newweek-- "Investors are turning to gold and bonds as stock markets continue tumbling amid increased trade tension between the United States and China. Trump's threat last week to impose tariffs on $300 billion more Chinese imports sparked investor fears. Beijing's decision to let its currency fall below the symbolic ratio of seven yuan to one dollar, which the U.S. responded to by labeling China a currency manipulator, has further sparked fears about the escalating trade war. After stocks registered their worst week of year and the Dow Jones Industrial Average suffered its sixth-largest point drop in history on Monday, investors are spooked and looking for a safe investment haven. As the stock market has slid, the value of gold has risen sharply. Spot gold is now priced above $1,500 per ounce, up from about $1,440 per ounce last Thursday. Goldman Sachs predicted that the price of gold, a more stable but less profitable investment than stocks, could rise to $1,600 per ounce. The price of spot silver is also rising and reached a 13-month high of $17.01 per ounce."