On March 27, 2025, gold prices surged to an all-time high, driven by growing global trade tensions following U.S. President Donald Trump’s announcement of new tariffs on imported vehicles. The announcement sparked fears of further escalation in the trade war, prompting investors to seek the safety of gold as a hedge against economic and political uncertainty.
Key Price Movements
Spot gold climbed 1% to $3,050.32 per ounce by 01:40 p.m. ET (1740 GMT), after hitting a record high of $3,059.30 earlier in the day.
U.S. gold futures rose 1.3%, settling at $3,061, also reaching a peak of $3,071.30 during the session.
Market Insights
Bob Haberkorn, Senior Market Strategist at RJO Futures, indicated that the surge in gold prices is largely attributed to safe-haven buying driven by uncertainty surrounding Trump’s tariff plans. With many countries, including Canada and France, threatening retaliation, the global trade outlook remains volatile.
Phillip Streible, Chief Market Strategist at Blue Line Futures, mentioned that gold is also benefiting from strong central bank inflows and ETF demand, which continues to support the precious metal’s uptrend.
Gold has become particularly attractive in light of the Federal Reserve’s recent decision to keep interest rates steady, and investors are now awaiting the U.S. Personal Consumption Expenditures (PCE) data scheduled for Friday to assess the likelihood of further rate cuts.
Outlook
Goldman Sachs recently raised its year-end 2025 gold price forecast to $3,300 per ounce, up from the previous estimate of $3,100, citing stronger-than-expected ETF inflows and continued central bank demand.
As investors increasingly turn to gold for security amid the ongoing geopolitical and economic instability, the metal’s bullish momentum appears poised to continue.
In addition to gold, other precious metals also saw gains:
Silver rose 1.7% to $34.27 an ounce, reaching its highest level since October 2024.
Platinum increased 0.7% to $981 per ounce, while palladium added 0.3% to $971.25.
This surge in precious metals reflects a broader trend of increasing demand for safe-haven assets amid rising global uncertainty.
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