On Friday, March 14, gold prices reached the $3,000 per ounce mark for the first time in history.
The mentioned record figure has become a fact existing in the space of objective reality, against the background of growing demand for safe-haven assets, which is associated with investor concerns about the potential consequences of the tariff policy of the administration of the President of the United States Donald Trump and the current geopolitical situation characterized by a high level of tension, including due to the outbreak of a trade war at the global level.
The highest mark reached by gold prices on Friday was $3,005. Then this indicator decreased.
Jason Hollands, managing director at Evelyn Partners, a UK wealth manager, described the yellow metal as the panic asset of choice and stated that the specified price increase reflects the extreme uncertainty currently facing the global trading system amid the erratic and aggressive approach to tariffs from the Donald Trump administration and the corresponding retaliatory measures.
It is worth noting that such a definition as a trade war has recently been increasingly mentioned by the media in the context of the assessment of the current state of affairs. The corresponding process is global and, in a certain sense, mutual, since the world’s capitals are responding to Washington’s tightening tariff policy through retaliatory measures.
This week, 25% levies on steel and aluminum imported into the United States came into effect. These are the latest measures currently implemented to tighten Washington’s trade policy after the start of Donald Trump’s second presidential term. It is worth noting that the mentioned levies triggered swift retaliatory decisions from Canada and the European Union.
