The price of gold soared to new all-time highs above $3,120 an ounce on Monday as economic and market uncertainty price strategy ramped up ahead of the start of Donald Trump's tariffs later in the week.
Gold has climbed above $3,120 per ounce this morning, up from around $3,020 a week ago.
In metric measures, gold surpassed a significant milestone, rising to above $100,000 per kilogram.
$PHYS $GLD 1 Kilio of #Gold is trading at over US$100,000 - ???? pic.twitter.com/4u9zawGODk
— Vince Stanzione (@Vince_Stanzione) March 31, 2025
The yellow metal has surged since late 2023.
Having seen short, sharp spikes above $2,000 an ounce in previous years, from November 2023 to the end of 2024, the price of gold rose from $1,980 to almost $2,390 by midway through the year.
At the start of 2025 gold was available at just over $2,623 an ounce.
"Uncertainty has the Midas touch", said commodities strategists at RBC Capital, which upped its forecasts due to "bad vibes and high uncertainty".
They said they believe "it’s clear that economic sentiment has deteriorated and gold’s appeal is more durable in this environment, meaning elevated prices should hold".