Gold prices settled at a five-week high on Friday on concerns about possible trade wars after the Trump administration’s move to add tariffs on at least $50 billion worth of Chinese goods and threats of retaliation from China. Upheaval in the administration, including the naming of John Bolton, a hawk on North Korea and Iran, as the next national security adviser, has also boosted haven demand for the precious metal. April gold rose $22.50, or 1.7%, to settle at $1,349.90 an ounce–the highest finish since Feb. 16, according to FactSet data. For the week, it rose roughly 2.9%.
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