Gold Prices Surge Past $3,000 Amid Rising Trade Tensions
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Gold hit a record high, surpassing $3,000 per ounce for the first time at $3,004.86, with prices up 14% since the beginning of 2025. This surge comes as investors look to the precious metal for safety amid growing economic uncertainty and escalating global trade disputes.
The rising trade war has led to new tariffs and retaliatory measures. For example, US President Trump threatened a 200% tariff on EU alcohol imports in response to a planned 50% tax on US whiskey, while tariffs on Chinese goods have also increased. These actions have fueled fears of higher inflation and rising costs for consumers.
Analysts say that in uncertain times, gold is a trusted store of value. Central banks have been buying large quantities of gold to diversify their reserves, further supporting the metal's price. With ongoing geopolitical tensions and tariff changes, the strong demand for gold is expected to continue.
