As the trade war between the world’s two largest economies heats up again, the probability of a US recession is now “the biggest concern,” says Standard Chartered Private Bank’s strategist Clive McDonnell. The potential of such a recession in the next 12 months has risen from 25 percent to “as high as 40 percent,” according to McDonnell.The head of equity strategy at Standard Chartered said in an interview with CNBC that he was telling clients to consider putting their money in gold amid the escalating uncertainty. “Gold was an asset class that for many, many years… we shunned,” he said. “But last month, we upped gold to a preferred st
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