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Wall Street keeps upping its bullish calls on gold — here's why

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Gold futures touched their 17th record of the year on Thursday , climbing just north of $ 3,060 .

President Donald Trump 's auto tariff announcement stoked further fears of an escalating trade war.

A move lower in the US dollar (DX-Y.NYB) index also helped drive prices higher.

JPMorgan analysts question whether a price of $ 4,000 is a possibility.