Trade tensions push gold to a historic record of $3000
Kyiv • UNN
The price of gold is rising due to concerns about Trump's customs policy and geopolitical instability. Experts predict further increases in the price of the precious metal.
An ounce of gold has reached the $3,000 mark for the first time, taking advantage of geopolitical and economic uncertainty.
UNN reports with reference to Вloomberg.
Gold rose to a record high, approaching $3,000 an ounce. The historical achievement in the price tag per ounce of gold is connected with concern over the aggressive customs policy of US President Donald Trump.
Context
The Republican president recently threatened to impose a 200% duty on European wine and other alcoholic beverages, a direct response to the 50% tariffs imposed by the European Union on exports of American goods, including American whiskey, in response to the US's 25% taxes on steel and aluminum.
Gold continues its way to record price levels
The precious metal continued its significant annual increase, which was recorded in 2024, supported by purchases by central banks, inflows of funds into exchange-traded funds, and bank forecasts.
Global inventories in ETF secured with ingots have increased to approximately 2,687 tons, which is the highest figure since November 2023, and banks predict further growth, including a target of $3,500 per ounce in the second quarter.
