3 days ago 8

Gold Blasts Past $3,100 for the First Time Ever Amid Trade War Jitters

Gold is also viewed as protection against political troubles that could weigh on the world economy. Its run-up at the close of last year also came amid heightened tension over developments in the Middle East and a dollar battered by US interest rate cuts.

Concerns that Donald Trump’s looming April 2 reciprocal tariffs could trigger further economic turmoil sent investors rushing to the ultimate safe-haven asset.

Spot gold, which tracks real-time trades in gold bullion, hit a record high of $3,111.3 an ounce after being up 18% this year alone.

Goldman Sachs analysts predict another high of $3,300 by year’s end.

Last year, gold prices hit record highs, with US gold futures slightly above $2,640 an ounce on the Comex division of the New York Mercantile Exchange, after peaking at $2,644.80. At the time, analysts speculated that the major target of $3,000 an ounce was in view.