Gold rockets to an all-time high, on track for biggest quarterly surge in nearly four decades as Trump’s tariff threats stoke global slowdown fears.

Gold prices have surged to a fresh all‑time high and are on track for their biggest quarterly gain in almost 40 years, as investors rush into safe‑haven assets amid mounting fears that former President Donald Trump’s new tariff threats could trigger a global economic slowdown. Market data show gold has repeatedly set record levels through the first quarter of 2025, delivering gains of about 18–19% over the period, the strongest quarterly performance since the mid‑1980s. Spot and futures prices have hit successive highs across major markets, with bullion breaking records in the United States, Europe and Asia as risk‑averse investors seek protection from rising trade and geopolitical tensions. The immediate catalyst is Trump’s threat to impose steep new tariffs, which has revived memories of earlier trade conflicts and raised concerns about weaker global growth and disrupted supply chains. Expectations that major central banks could respond to a slowdown with easier monetary policy, combined with a softer U.S. dollar and ongoing central bank gold buying, have added further support to the rally. Analysts and banks cited in market commentary project that if trade frictions and geopolitical risks persist, gold could remain underpinned at elevated levels, although several warn that the metal may be vulnerable to sharp corrections if tensions ease or economic conditions stabilize.

✨ AI-generated background, compiled from web sources — not editorial content.

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