Gold prices reached a new all-time high on Monday, with the price of an ounce soaring to $3,127.88, driven by rising concerns over the economic impact of U.S. President Donald Trump’s trade policies.
At 0810 GMT, the price of gold remained near this record, standing at approximately $3,126 per ounce, reflecting a 1.4% increase from the previous session.
Since President Trump assumed office on January 20, gold has gained roughly 15%, with the price rising from $2,620 at the beginning of 2025. This marks an increase of about $506 in value so far this year. In 2024, the price of gold rose by 27%, and it has already gained around 19% in 2025.
The surge in gold prices comes amid heightened uncertainty following President Trump’s recent trade announcements. On Sunday, Trump revealed that his proposed reciprocal tariffs would target “all countries,” contradicting earlier expectations that only specific nations would face tariffs. Speaking aboard Air Force One, Trump confirmed that his long-awaited tariff decision, set to be unveiled on April 2, would impact all nations initially.
“You would start with all countries,” Trump said. “Essentially, all of the countries that we’re talking about.”
This follows Trump’s decision last week to impose a 25% tariff on all automobile imports, continuing his administration’s aggressive stance on international trade. Trump has repeatedly accused foreign nations of exploiting the U.S. in trade agreements.
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