Julius Baer Asset Management believes the price of gold will continue to rise.

Stephan Müller, the manager of Julius Baer's Physical Gold Fund, said: "Since the beginning of the century, gold has provided a safe haven for private investors seeking protection in real terms from turbulent financial markets."

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Carney said the 90-day pause, and Trump’s pledge to negotiate new trading arrangements with dozens of countries, “will likely result in a fundamental restructuring of the global trading system.”

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The BOE said that further sharp falls in asset prices are likely.

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Julius Baer Asset Management backs gold

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