Gold Hits All-Time High Near $3,000 Amid New Tariff Threats

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Updated Mar 13, 2025, 03:17 PM

Gold prices have surged to new record highs, driven by safe-haven demand amid heightened economic uncertainty and new tariff threats from President Donald Trump. Spot gold prices surpassed the previous record, reaching an all-time high of $2,961.26 per ounce. Analysts at Macquarie Group predict that gold prices may rise as high as $3,500 an ounce in the third quarter. They attribute the increase to investors' and official institutions' greater willingness to pay for gold's lack of credit risk, especially in the face of escalating trade tensions and global recession fears. Despite soft U.S. Consumer Price Index data, which provided some relief for Wall Street, safe-haven demand for gold persists. The precious metal is approaching the psychological level of $3,000 per ounce, with traders closely watching for further cues from the Federal Reserve on potential rate cuts. The rally in gold has outpaced gains in other commodities, with silver also showing strength but lagging behind gold's performance. The gold-to-industrial metals price ratio is near historic highs, signaling investor caution about the global economic outlook.

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