Gold continued its rally to a record high of $2,800 per ounce, gaining 6.7% since the beginning of the year. This rise is due to the escalation of geopolitical tensions, increasing uncertainty about tariffs, and a weaker US dollar, which has enhanced the appeal of gold as a safe haven.

Gold has made a significant rise as market concerns about tariffs and their impact on economic stability have increased. Gold inventories on the Comex exchange have also increased by 70% since the US election, reaching a value of $85 billion.

The dollar continues to decline after the inauguration of US President Donald Trump, driven by the results of the Federal Reserve meeting and weaker-than-expected US GDP data, which has boosted gold prices historically. The Federal Reserve left interest rates unchanged, with its Chairman Jerome Powell stressing a cautious approach to any future cuts.

Gold’s record levels reflect the uncertainty in the markets, which are affected by US trade policies, interest rates, and currency fluctuations. Despite a ceasefire between Israel and Hamas and no new tariffs during Trump’s presidency, the outlook remains uncertain, especially for inflation and commodity prices such as oil. As US bond yields continue to weaken, gold is holding on to its gains, reinforcing its status as one of the safest investment assets amid global economic volatility.