Gold surged to a historic high of $3,500.10 per ounce on Tuesday, driven by escalating trade tensions sparked by US President Donald Trump's tariffs and his outspoken criticism of the Federal Reserve. The precious metal, traditionally seen as a safe haven during periods of economic uncertainty, attracted a wave of investor demand in response to the growing market instability.
Although gold briefly surpassed the $3,500 mark, it eventually pulled back to settle at $3,467.87 per ounce. This milestone marks the highest price for gold ever recorded, reflecting heightened concerns about the impact of the trade war and the US economy’s future outlook under Trump’s policies.
The rise in gold prices comes amid global uncertainty, with investors seeking refuge in the metal as a hedge against potential economic downturns. Trump's tariffs, aimed at China and other countries, coupled with his verbal attacks on the Federal Reserve, have fueled fears of further market volatility, prompting a surge in demand for gold.
