Gold Hits Record High Amid Trump-Era Uncertainty

Gold has just smashed through the $5000 an ounce barrier for the first time ever, hitting a high of $5020 yesterday before dipping slightly today.

This latest surge is part of a months-long rally, with gold prices now sitting about 20% higher than they were this time last year. A big reason behind the jump? Market jitters caused by US President Donald Trump's economic policies—especially his upcoming expansion of tariffs.

"Investors worldwide are turning to gold as the ultimate safe-haven asset," said Sean Hoey, managing director at IBV International Vaults London. He added that demand for secure gold storage has been "unprecedented" as people look for ways to protect their wealth.

And it’s not slowing down anytime soon. Trump is set to make his big ‘Liberation Day’ tariff announcements tomorrow at 7 AM AEDT, which could bring a fresh wave of market uncertainty. Australian exports—including beef, sheep, pharmaceuticals, and even media—could all be hit, based on a list of trade grievances from the US.

There’s also growing speculation that Trump might scrap his ‘reciprocal tariffs’ approach (where he matches fees charged by foreign countries on US imports) in favor of broader, blanket tariffs.

With so much uncertainty ahead, it looks like gold’s moment in the spotlight isn’t over just yet.