Gold surpasses $3,000 mark for first time, setting new records
The image features a background of gold coins with an overlay of a rising price chart reaching $3,000, illustrating the upward trend in gold prices. (Adobe Stock Photo)
The price of gold surged to a record high on Friday, with spot prices exceeding $3,000 per ounce, driven by intensifying global uncertainties following the latest tariff policies imposed by U.S. President Donald Trump.
Gold climbed 0.41% in a day to reach $3,001.19 per ounce as of 10:30 a.m. GMT, extending its gains to approximately 10% since Trump assumed office on Jan. 20.
The precious metal has been on an upward trajectory since the start of the year, having opened 2025 at $2,620 per ounce. In just over two months, it has gained $381 in value, setting 13 record highs so far this year.
Gold’s bullish momentum follows a 27% surge in 2024, and with a 14% gain in 2025 already, analysts suggest that the metal’s rally is fueled by heightened market instability, inflation concerns, and geopolitical tensions.
Trump tariffs loom, driving flight to safe-haven assets
The latest tariff measures announced by Trump’s administration took effect on Wednesday, imposing a 25% levy on all steel and aluminum imports. This move raised concerns over potential retaliatory measures from affected nations.
On March 4, Trump also imposed a 20% tariff on Chinese imports, further escalating the ongoing U.S.-China trade dispute.
Additionally, the administration threatened to impose 25% tariffs on imports from Canada and Mexico, but these measures were later postponed following negotiations with the leaders of both nations.
Adding to the uncertainty, Trump issued a new threat on Thursday, stating that the U.S. would impose a 200% tariff on imported alcoholic beverages from the European Union unless the bloc withdraws its 50% tariff on American whiskey.
These aggressive tariff measures and threats have stoked fears of an escalating global trade war, with several countries vowing to implement countermeasures.
Market analysts warn that such developments could further disrupt international trade flows, increase inflationary pressures, and drive investors toward safe-haven assets like gold.
