Gold price reaches record high of $3,200 amid US-China tariff war
The price of gold reached a record high of $3,200 per ounce, delivering exceptional returns to investors in the face of the global trade war between the United States of America and China.
According to FXstreet.com, the remarkable surge reflects the increasing appetite for safe-haven assets in times of economic uncertainty, reinforcing gold’s status as a reliable hedge against inflation.
Recall that since the kick-off of 2025, gold prices have risen over 20 percent, fueled by robust buying from foreign central banks.
Meanwhile, the US dollar, USD, sell-off extends across the board, as traders take account of the latest Chinese retaliation on US goods set in.
This comes after China announced early Friday that it will impose 125 percent tariffs on U.S. goods from Saturday, up from the 84 percent previously announced.
On Thursday, the US increased tariffs on Chinese imports, imposing a new 125 percent levy on top of an existing 20 percent duty — raising the total to 145 percent despite a 90-day tariff pause on other countries.
The latest data from the US showed that the annual producer inflation, as measured by the change in the Producer Price Index (PPI), softened to 2.7 percent in March from 3.2 percent in February amid the tariff war.
While gold surged on Friday, Bitcoin remains below its all-time high of $109,000.
