Gold prices have surpassed the US$3,000-per-ounce mark, setting a new record in recent history. This surge comes amid growing concerns over the global economic outlook, spurred by the tariff policies of U.S. President Donald Trump’s administration. Gold at new highs On March 14, 2025, gold—widely regarded as the top safe-haven asset in times of economic and political volatility—briefly climbed to US$3,005.08 per ounce before slightly retreating. Futures prices also topped US$2,940 per ounce shortly after U.S. tariffs on steel and aluminum came into effect. Since the beginning of the year, gold prices have risen by approximately 14%, while the S&P 500 index has dropped more than 4% and recently entered into correction territory as of the week ending March 14. Even blue-chip stocks like Apple have just experienced their worst trading week in five years. According to Bloomberg, in a broader context, gold prices have surged tenfold since 2000, far outpacing the S&P 500’s fourfold gain over the same period. This highlights the enduring appeal of the precious metal as a long-term store of value. Investment inflows into gold are also at record levels. Over 23 million ounces of gold, valued at around US$70 billion, have flowed into the vaults […]