"$3000 Approaching"... Gold Price Hits All-Time High with 8% Rise Amid 'Trump Risk'

Preference for Safe-Haven Assets Expands amid Tariff Threats

The international gold price has reached an all-time high. This is due to increased preference for safe-haven assets amid policy uncertainties such as tariff threats from U.S. President Donald Trump. Market analysts predict that the gold price could surpass $3,000 per ounce.

On the 30th (local time) at the New York Mercantile Exchange, April gold futures closed at $2,845.2 per troy ounce, up 2.7% from the previous trading day. During the session, the price surged to $2,853.2, breaking the previous all-time high of $2,800.8 set in October last year. This marks an approximately 8% increase in gold prices so far this year.

International gold prices have reached an all-time high. This is due to increased preference for safe-haven assets amid policy uncertainties, including tariff threats from U.S. President Donald Trump. Reuters Yonhap News

The recent rise in gold prices is attributed to policy uncertainties under the second Trump administration. Concerns over trade policies such as tariff hikes and resulting inflation fears have increased demand for safe-haven assets, expanding investment in gold. Earlier, President Trump repeatedly warned that he would impose a 25% tariff on all imports while demanding crackdowns on drug trafficking and illegal immigration from Canada and Mexico. On the same day, he told reporters at the White House, "We may do it, or we may not," adding, "We will probably make a decision tonight." This has heightened expectations that commodities like gold can serve as an inflation hedge.

Suki Cooper, an analyst at Standard Chartered, said, "There is significant concern about tariffs," and analyzed, "When there is broad asset risk, gold’s appeal as a safe-haven asset shines."

Speculation that the U.S. might impose tariffs on gold bars entering the country is also pushing gold prices higher. After President Trump announced the possibility of a universal tariff of 10-20% on all imports worldwide, investors have been moving gold stored in London to New York, causing a shortage of gold in London, the world’s largest physical gold market.

Recently, the decline in the value of the dollar has allowed overseas investors to purchase gold, which is priced in dollars, at relatively lower prices, contributing to increased gold investment and rising gold prices.

Market observers expect the 'gold price rally' to continue for the time being. Peter Cardillo, chief market economist at Spartan Capital Services, forecasts that gold prices will surpass $3,000 per ounce.

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Japan’s Mitsubishi UFJ Financial Group (MUFG) analyzed, "There is a possibility of an inflation shock due to Trump administration policies, and commodities will play a role in hedging against this," adding, "As the Trump administration drives demand for safe-haven assets, gold has strong momentum for further short-term gains this year."