Gold Prices Reach Record $3,042 as Global Uncertainty Drives Demand

Geopolitical tensions, U.S. tariffs, and Federal Reserve policy sustain gold's appeal as a safe-haven asset.

Gold prices hit an all-time high of $3,042 per ounce, driven by economic and geopolitical uncertainties.
U.S. President Donald Trump's tariffs, including a 25% levy on steel and aluminum, have heightened trade tensions and inflation concerns.
Central banks in emerging markets and Eastern Europe have significantly increased gold purchases to diversify reserves away from the U.S. dollar.
Demand for gold in China and India has surged, fueled by economic factors such as a property crisis in China and reduced customs duties in India.
The Federal Reserve is expected to maintain steady interest rates, supporting gold's strength in a low-yield environment.