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Gold Price Hits New Record, Breaking US$3,100 for First Time

by admin April 1, 2025
April 1, 2025
Gold Price Hits New Record, Breaking US$3,100 for First Time

The gold price reached yet another record high on Monday (March 31), breaking US$3,100 per ounce.

The precious metal has gained significant momentum since the beginning of the year. In morning trading on Monday it surged past the US$3,100 mark, climbing as high as US$3,124.96.

Monday’s rise precedes US President Donald Trump’s planned retaliatory tariffs, which are set to come into effect on Wednesday (April 2). The new round is aimed at countries that have placed tariffs on US goods.

Gold price chart, March 24 to 31, 2025.

How widespread the tariffs will be, or if there will be any carve outs, is still unknown.

Trump has threatened various tariffs since the start of his administration, but few have yet to materialize. The majority have targeted US trade partners like Canada, Mexico and the European Union.

On March 26, Trump announced a 25 percent tariff on all automobiles made outside of the US, but suggested there may be exemptions for parts and vehicles that fall under US-Mexico-Canada Agreement guidelines. Those rules require that 60 percent of vehicles and components be manufactured in the US, Canada or Mexico.

The net effect of Trump’s actions has been political and financial turmoil, sparking selloffs on major stock markets and pushing prices for safe-haven assets like gold to fresh records.

Additionally, China, Japan and South Korea agreed on Sunday (March 30) to seek deeper free trade ties in response to the threat of tariffs from the US government. The deal marks a significant move by the three countries following decades of US diplomacy to maintain close relationships with Japan and South Korea.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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