BANGKOK (AP) — The price of gold hit a new record and world shares were mixed on Tuesday after U.S. markets were closed for the Labor Day holiday.

The spot price of gold, traditionally a haven for investors in times of uncertainty, gained 1.4% to $3,571.50 per ounce early Tuesday. That surpassed an intraday record of $3,509.90 an ounce set in April.

President Donald Trump' s challenges to the U.S. Federal Reserve and other institutions has shaken faith in the U.S. dollar, prompting a shift into other investment options such as gold.

“That’s not just a price tick; it’s the market’s confession that faith in fiat is wobbling,” Stephen Innes of SPI Asset Management said in a commentary. He noted that the price of the precious metal has nearly doubled since early 2023.

Investors have b

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