Gold Prices Hit $3,000/Oz For First Time In History On Flight To Save Havens, Weakening Dollar
Gold prices soared to an unprecedented $3,000 per ounce for the first time in history, marking a major milestone in the precious metal’s long-standing reputation as a safe-haven asset. This surge is fueled by growing economic uncertainty, spurred in part by the ongoing trade war under President Donald Trump, and a weakening U.S. dollar.
Spot gold briefly surpassed the $3,000 mark earlier this week, reaching a high of $3,004.86 before slightly dropping to $2,986.26, with investors capitalizing on profits. U.S. gold futures settled higher at $3,001.10, reinforcing the trend of rising gold demand amidst global economic turbulence. Since the start of 2025, the precious metal has seen a near 14 percent increase in value.
Investors have been flocking to gold as a safe store of value in times of geopolitical and economic turmoil. The current economic climate, exacerbated by Trump’s on-and-off-and on again tariffs and their ripple effects across global markets, has heightened investor fears of prolonged uncertainty, CNN reported. As stock markets wobble under tariff-induced pressure, gold has once again proven itself as a reliable hedge against economic instability.
“Gold’s surge above $3,000 comes as investors seek shelter from the volatility spurred by Trump’s unpredictable trade policies,” said Tai Wong, an independent metals trader, told Reuters. Historically, gold’s role as a safe-haven asset has been solidified during times of geopolitical unrest, and the current global trade tensions have reignited this demand.
Central banks have also contributed to the gold rally, with countries like China continuing to accumulate gold reserves. As the U.S. dollar weakens amid ongoing tariff disputes and concerns over inflation, the appeal of gold, which is priced in dollars, has only intensified. “The continued buying spree from central banks underscores the desire to diversify away from the increasingly volatile dollar,” explained David Russell, CEO of GoldCore, told Reuters.
Investors looking to capitalize on the gold boom can consider investing through exchange-traded funds (ETFs), which offer a more accessible entry point into the precious metal. Gold ETFs, currently priced at approximately $275 per share, allow investors to gain exposure to gold without the complexities of physical ownership.
Consumers can even by physical gold at Walmart and Costco. At Walmart, for example, you can buy 1 ounce Gold PAMP Suisse Lady Fortuna Veriscan Bar with Assay Card for $3,097.70. At Costco you must be a member to buy gold bars.
The surge in gold prices has prompted analysts, including Goldman Sachs, to predict that gold could reach $3,100 per ounce by the end of 2025. With economic risks showing no signs of abating, gold’s upward trajectory seems poised to continue, offering investors a hedge against both inflation and geopolitical risk.
