Gold Prices Surge to Record $3,128 Amid Tariff Fears

Gold prices surged to a record high of $3,128.06 per ounce, driven by heightened demand for safe-haven assets amid escalating concerns over U.S. trade policies and upcoming tariffs announced by President Donald Trump. The recent rally has been attributed to fears of a U.S. recession and geopolitical instability, with analysts noting that gold has seen a 19% increase this year alone, following a 27% rise in 2024. Trump's announcement that reciprocal tariffs would affect 'all countries' added to market uncertainty, prompting investors to flock to gold as a secure investment. This surge represents one of the most significant upswings in gold's history, with many analysts predicting the trend to continue due to ongoing economic volatility. Other markets reacted negatively, with global stock indices falling sharply as the implications of the tariffs became clearer. As gold prices continue to rise, they reflect the growing risk aversion among investors in light of Trump's unpredictable trade strategies.