Gold is at its highest level ever with the increasing demand for safe haven

Gold prices recorded a standard peak that exceeded the level of $ 3000, today, for the second time in a week, with investors seeking to hedge the economic concerns that US President Donald Trump’s policies regarding customs duties.

The price of gold in instant transactions increased 0.2 percent to $ 3008.08 an ounce by 02:49 GMT, after he recorded its highest level ever at $ 3012.05 an ounce earlier in the session.

Gold exceeded the barrier of $ 3000 an ounce for the first time on Friday.

US gold futures rose 0.4 percent to $ 3017.60.

Gold is always a hedge of geopolitical instability, and has jumped more than 14 percent since the beginning of the year.

Since Trump took office in January 2025, gold has scored a record highest 14 times, as commercial tension has strengthened the demand for safe haven.

Trump put forward plans for a series of American customs duties, starting with fixed fees of 25 percent on steel and aluminum that entered into February, and mutual drawings and on certain sectors that he said would be imposed on the second of next April.

“Gold is witnessing a noticeable increase due to the weakness of the dollar and the continuation of the uncertainty about customs duties,” said Edward Mayer, an analyst at Maricks.

The dollar index fell near its lowest level in five months, which made gold cheaper for foreign buyers.
On the level of other precious metals, the price of silver in instant transactions increased 0.2 percent to $ 33.89 an ounce, and platinum increased 0.5 percent to 1004.65 dollars, and palladium rose 0.5 percent to 969.6 dollars.