The international price of gold surpassed US$3,000 for the first time in history. Persistent high inflation, global geopolitical tensions, tariff threats in the U.S., and an uncertain economic outlook have driven up the price of what has been a safe haven for global wealth for decades.
The value of an ounce of gold increased today by 0.40%, reaching US$3,004.94. With this appreciation, in the first two and a half months of 2025, gold has risen in value by 14.5%.
The price of gold surged strongly due to the resurgence of the Palestinian-Israeli conflict, as since October 7, 2023, the precious metal price has surged by 63.7%.
Global uncertainty pushes gold price above record high US$3,000
Over the last months, Gold has reclaimed its historical leading role as a safe-haven asset in times of political and economic uncertainty, exacerbated by the arrival of Donald Trump to the U.S. presidency.
Trump’s constant tariff threats are destabilizing a global market that has yet to recover from the inflationary tensions of the last three years. Economic uncertainty and the fear of a possible recession in the U.S. are the primary factors driving the rising price of gold.
The record value of gold comes just as U.S. tariffs on European steel and aluminum imports took effect, and after the European Union (EU) announced it would respond with tariffs worth up to 26 billion euros on a wide range of U.S. products, such as Levi’s, Harley-Davidson motorcycles, and bourbon.
In the escalation of threats from the U.S. president, the White House announced that it will “shortly” impose a 200% tariff on all wines and alcoholic products from the EU.
Another bullish factor for gold has been the U.S. inflation data released on Wednesday, which was better than expected, fueling speculation that the Federal Reserve (Fed) might implement another interest rate cut.
Finally, the conflict between Russia and Ukraine, with no definitive resolution in sight, is also contributing to the rise in gold prices.
Gold, the eternal refuge in times of crisis
Since ancient times, gold has been considered a safe-haven asset in times of economic uncertainty and geopolitical conflicts. Its enduring cluster and scarcity have made this precious metal a guarantee of stability for entire civilizations.
One of the earliest examples of its importance can be found in the Roman Empire, where the gold aureus was a symbol of wealth and power. Centuries later, during the Great Depression of 1929, investors turned to gold following the collapse of financial markets, forcing the United States to implement restrictions on its purchase and sale.
In more recent times, the 2008 financial crisis once again drove up the demand for gold, pushing its price to historic levels. Similarly, in the current global context, marked by inflation and geopolitical tensions, central banks and large investors have bolstered their reserves of this metal as a protective measure.
Gold has always been a reliable asset throughout history, safeguarding the wealth of great fortunes in times of uncertainty. Today, its role as a financial safe haven remains relevant, serving as a secure option amid the fluctuations of the global economy.