International Gold Rate Hits New Record High As it Nears Historic $3,200 Level

Gold prices climbed to a new record high on Tuesday as investors turned to the precious metal ahead of US President Donald Trump’s looming announcement on global tariffs. Spot gold rose 0.1 percent to $3,125.69 an ounce as of 0745 GMT, after touching an all-time peak of $3,148.88. US gold futures climbed 0.1 percent to $3,153.40. Analysts attribute gold’s rally to concerns over trade restrictions, with investors de-risking ahead of Trump’s tariff announcement set for Wednesday. One expert said the anticipation of new US tariffs has pushed investors toward gold as a hedge against potential market volatility. Traders are now watching for a possible retest of the $3,200 level. The rally marks gold’s strongest quarterly performance since 1986, driven by sustained demand from central banks, expectations of US Federal Reserve interest rate cuts, and geopolitical instability in the Middle East and Europe. Increased inflows into gold-backed exchange-traded funds have further supported the surge. Despite technical indicators suggesting overbought conditions, analysts believe uncertainty over future tariffs, particularly on automobiles set to take effect on April 3, could keep demand for gold elevated. Silver fell 0.7 percent to $33.83 an ounce, platinum down 0.9 percent to $984.25, and palladium edging up 0.4 percent to $986.79.