XAU/USD: Gold Cracks $3,000 for First Time as Trump Tariffs Fuel Safe-Haven Demand

Precious metal advanced to the never-before-seen mark of $3,005 per ounce. Is that the end or just the beginning?

🧈 It’s over $3,000!

• Gold prices XAUUSD recharged their rally and scaled all the way to $3,005, surpassing the huge psychological milestone of $3,000 for the first time in history. The head-turning point was underpinned by consistently stressed traders who can’t enjoy a day of certainty out there thanks to Trump’s tariff jitters.
• In its latest twist, the tariff drama reached Europe when Trump threatened to slap EU imports of alcohol with a tariff of 200%. That’s not good news for gold, which has been rushed into the US from London — what if Trump targets gold next?

💰 Biggest Gold Fans?

• That’s why gold dealers and traders have been snapping it up regardless of the price tag. Central bank buying is helping the rally, too. Markets have never seen so much demand for safe haven by central banks at such a rapid pace. For the first time, in the last three years, gold purchases by central banks topped 1,000 tons per year.
• There’s also the fear of de-dollarization. An increasing number of big and powerful countries are looking for ways to break out of their dollar ties. China, Russia and other countries from the BRICS group are weighing alternative currencies.

🐤 Bird’s-Eye View

• The bigger picture: gold has climbed about 15% this year, easily beating nearly all other megacap assets like stocks and even… yes… cryptocurrency. America’s broad market index S&P 500 is down about 6% on the year, while Bitcoin prices float around the 14% to 15% gain mark.
• Also, the Federal Reserve is voting on interest rates next week — an event that may spark some gold volatility. The US central bank is expected to leave borrowing costs unchanged due to the heightened uncertainty going forward. So is gold’s $3,000 threshold only the beginning?