Gold has broken the $3,000 per troy ounce barrier for the first time, peaking at $3,017.10 during European trading. This record surge stems mainly from uncertainty over U.S. trade policies, highlighted by President Trump’s threat to impose 200% tariffs on European alcoholic beverages.
The rally is further supported by anticipated Federal Reserve rate cuts, strong central bank buying (exceeding 1,000 metric tons yearly since 2022), and growing global tensions, including the Ukraine conflict and Europe’s increased defense spending plans.