Gold Edges Higher as Traders React to Expanding Trade War

Gold edged toward the record high set on Monday, as the Trump administration pressed ahead with probes that could broaden the US’s sweeping trade war.

Bullion rose to top $3,230 an ounce, less than $15 below the peak set in the first trading session of the week. The US Commerce Department said Monday it had initiated probes into the national security impact of semiconductor and pharmaceutical imports, a precursor to imposing tariffs.

The precious metal has rallied by more than a fifth this year as the worsening trade war has damped prospects for global growth, eroded trust in ...