Tariffs are roiling stock markets — but making gold hotter than ever.
President Trump’s chaotic tariff policies continue to rock U.S. stock markets, which just ended their worst quarter in years. But for some investors, all of this uncertainty has a big gold lining.
The price of gold has been hitting all-time highs this week, as investors snap up something that’s often seen as a safe haven. Early Tuesday, gold futures hit a new record price of $3,177 per ounce, before falling back a little. But they are still up more than 18% from the start of the year — while the S&P 500 is down more than 4% over the same period.
The gold frenzy comes as markets around the world continue to panic over Trump’s tariffs, which are widely expected to increase prices for consumers. The trade war has also created massive uncertainty for businesses and investors. It’s also fueling global tensions between the United States and its largest trading partners — and stoking fears about the increasing probability of a U.S. recession.
The president has promised to roll out even more tariffs on Wednesday, which he’s calling « Liberation Day. » But the steep taxes he has already imposed — as well as the on-again, off-again way he has announced them — have already shaken investors, businesses, economists, and consumers.
Amid all this uncertainty, here are three things to know about the surge in the price of gold.
