The price of gold has reached a new historical milestone, exceeding for the first time the barrier of $ 3,000 per ounce. This increase responds to its role as an active refuge in the midst of the growing global uncertainty, marked by commercial tensions between the United States and the European Union, as well as by geopolitical instability.
One of the key triggers has been Donald Trump’s last tariff offensive. The US president has threatened to impose tariffs of up to 200% to European alcoholic products such as champagne and wine, in response to 50% rates announced by Brussels on US whiskey. This climb has further raised the concern of investors, promoting the demand for precious metal, which closed on Friday at $ 3,94 per ounce.
According to Stephen Innes, SPI AM analyst, the equation is clear: “The higher the tariffs, the greater the uncertainty and the demand for gold.” In addition, fears about a possible global economic slowdown reinforce their role as an asset of refuge.
The instability around peace negotiations between Ukraine and Russia has also contributed to this increase. Geopolitical uncertainty and doubts about the evolution of markets continue to position gold as a key investment option in volatility times.