Gold price hits new record high as tariff worries intensify

ISTANBUL

The price of gold hit a new record on Monday, with an ounce trading at $3,127.88 amid uncertainties caused by US President Donald Trump's trade policies.

After hitting an all-time high, the price of gold currently stands around $3,126 as of 0810GMT.

The ounce of gold rose 1.4% on Monday to set a new record.

The safe haven asset has gained around 15% since Trump took office on Jan. 20.

After starting 2025 at $2,620, it has gained around $506 in value since the beginning of the year.

While the ounce price of gold rose 27% throughout all of 2024, so far this year it has already gained around 19%.

US President Donald Trump on late Sunday announced that his reciprocal tariffs will target "all countries," breaking expectations that only certain countries would be targeted.

Trump told reporters aboard Air Force One on Sunday that he would "start" with all nations when he announces his long-awaited tariff decision on April 2.

"You would start with all countries," Trump said. “Essentially, all of the countries that we’re talking about.”

Trump, who put a 25% tariff on all auto imports last week, has long accused other nations of taking advantage of the US in trade.