Gold prices have surged to an all-time high, reaching $3,148 per ounce. The rise is linked to investors seeking a safe haven ahead of US President Donald Trump’s tariff announcement, The Guardian reports.
Trump is set to impose new tariffs tomorrow, targeting different countries separately, branding the day as America’s “Independence Day.” However, for the affected nations, it signals economic turmoil. The uncertainty has already caused volatility in European and Asia-Pacific stock markets, prompting investors to offload shares.
Market analysts highlight that economic uncertainty fuels gold demand, as seen historically during inflationary periods, wars, and financial crises. The recent price surge echoes patterns observed after the Russia-Ukraine conflict and during past global economic downturns.
In a Fox News interview, Trump dismissed concerns about a potential recession, stating, “The U.S. economy is undergoing a transformative phase. While it takes time, I believe the outcome will ultimately be beneficial.”
Meanwhile, Bangladesh’s gold market has mirrored global trends, with prices hitting a record high of BDT 158,000 per bhori (11.66 grams) after a recent increase of BDT 1,773 per bhori.
Globally, gold remains the most stable and trusted asset, outperforming stocks and currencies over decades. With inflation and market instability persisting, the metal’s appeal as a secure investment continues to rise.
LND/BG
