Gold surged to an unprecedented $3,500 per ounce on Tuesday, setting a new all-time high as market jitters over U.S. economic policy and global trade tensions drove investors toward the safe-haven asset.
The precious metal briefly touched $3,500.10 before easing to $3,467.87. This milestone follows a series of record-breaking gains in recent weeks, fueled by a weakening U.S. dollar and significant losses in global stock markets.
The latest surge comes in response to renewed economic and political turbulence. U.S. President Donald Trump’s escalating trade war with China, along with his repeated public attacks on Federal Reserve Chair Jerome Powell, have rattled financial markets. Trump has criticized Powell for not slashing interest rates, calling him a “major loser” in a recent social media post. These remarks have intensified concerns about the Federal Reserve’s independence.
“Gold’s rally highlights growing fears of a recession in the U.S. and the rising political tensions,” said Rania Gule, a senior market analyst at XS.com. “Investors are turning to gold as a reliable store of value in uncertain times.”
Since the start of 2025, gold prices have jumped over 30%, reflecting heightened anxiety in the financial world and a search for stability.
AFP
