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Global Market Turmoil Drives Gold to Historic High Before Modest Retreat

Gold prices dipped by 0.5% to $3,119.09 on Thursday after reaching a record high of $3,167.57 earlier in the day, following President Trump’s announcement of sweeping import tariffs.

Despite this pause, gold has gained 19% in 2025, supported by economic uncertainties, geopolitical tensions, central bank purchases, and increased investment in gold-backed ETFs.

While Trump’s new tariffs have sent global markets tumbling over growth and inflation concerns, they notably exclude gold, copper, energy, and certain minerals not available in the United States.

Original Source: Reuters

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