Gold prices hit a record high, exceeding $2,900 per ounce for the first time, driven by US President Donald Trump's new tariff threats. Investors are seeking refuge in gold as a safe haven asset amid heightened global trade uncertainty.
Gold continued its record-breaking rally on Monday, surpassing the key $2,900 level for the first time, as US President Donald Trump’s new tariff threats drove safe-haven demand higher.
“Obviously the tariff war is behind the rise; it just reflects more uncertainty and more tension in the global trade situation,” Marex analyst Edward Meir said in a note. Analysts believe that gold is now gaining enough momentum to reach the $3,000 milestone, as an escalation of the trade war is expected to propel demand for safe-haven assets higher.
GOLD TARIFFS USA INVESTMENTS INFLATION
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