On March 14, the price of gold reached a record level — 3,000 dollars per ounce. This comes amid uncertainty over US tariffs and general trade tensions. The price is now down 0.1% to trade at $2,984 an ounce. About this informs Reuters.
The increase in the price of gold took place against the background of the fall of the American stock market. The S&P 500 has fallen nearly 10% over the past month, with the index down 4.3% in the past week alone (March 7-13).
“Gold prices are now approaching the psychological level of $3,000, and as the second quarter approaches, when retaliatory tariffs could trigger a new wave of market volatility, gold remains an attractive safe-haven asset amid a dearth of alternatives.” IG market strategist Yeap Jun noted.
Tariffs initiated by Donald Trump are expected to lead to higher inflation and economic uncertainty, which could contribute to new record high gold prices in 2025. Gold is traditionally seen as a hedge against political risks and inflationary challenges.
