Global gold prices hit new record high amid uncertainty over Trump tariffs

The international gold price hit a new record high on the 13th (local time). The rise in gold prices was due to the uncertainty surrounding the tariff policy of the US Donald Trump administration and the monetary policy of the Federal Reserve System (FRB, FED), the US central bank.
According to Reuters, as of 1:55 p.m. on the same day, spot gold rose 1.6% from the previous trading day to $2,979.76 per ounce, the highest price on record.
Spot gold prices rose 27% last year and are up nearly 14% so far this year. At the same time, April gold futures were trading at $2,991.3, up 1.5% from the previous trading day.
President Trump's tariff policies have caused geopolitical and economic turmoil, pushing up the price of gold, a leading safe-haven asset. Commerce Secretary Howard Lutnick announced on the 11th of this month that
In a CBS News interview sent to reporters, he was asked, "If the tariffs caused a recession, would it be worth it?" He responded, "These (tariff) policies are the most important in the history of the United States.
"It's worth it," he said. Renewed expectations of a Fed interest rate cut are also helping to lift gold prices.
Producer prices also fell short of market expectations. Experts also see the central bank's strong gold buying as a key driver of demand for gold. The People's Bank of China, the central bank, announced that gold prices had fallen for the fourth consecutive month in February.
The SPDR Gold Trust, the world's largest gold exchange-traded index fund (ETF), held 907.82 tons of gold as of the 25th of last month.
The company announced that demand for gasoline and diesel has increased to 1.2 trillion yen, reaching its highest level since August 2023.