President Trump's tariff strategies have triggered chaos in U.S. stock markets, sending them to their worst quarter in years. However, gold has emerged as a safe haven, surging to record prices, with futures reaching $3,177 per ounce. This shift comes as tariffs are expected to inflate consumer prices and contribute to global tensions, potentially leading to a U.S. recession. Analysts, including Michael Widmer from Bank of America, predict continued increases in gold prices, attributing recent gains mainly to tariff-related fears and market uncertainty.
The price of gold has been gradually rising for years, but it's really hit a hot streak since the beginning of 2025.
Michael Widmer, head of metals research at Bank of America, said that the recent surge in gold prices has been 'almost exclusively driven' by tariff-related fears.
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