Overview

• Gold prices reached an all-time high of $3,086.70 per ounce, marking the 18th record high of 2025 and a 17% quarterly gain, the best since 1986.
• President Trump's announcement of a 25% tariff on auto imports and expectations of additional tariffs next week have heightened economic uncertainty.
• Global stock markets, including the Dow Jones, S&P 500, and Nasdaq, posted significant losses as trade war concerns intensified.
• Copper prices have surged 30% year-to-date, driven by fears of impending tariffs and strong demand from China and Europe's defense infrastructure projects.
• Institutional investors and central banks are stockpiling gold, with inventories in New York reaching record highs, while analysts predict prices could climb to $3,500 within 18 months.