Gold surpasses $3,500 for the first time in history

Sharjah 24 – AFP: On Tuesday, gold prices soared past the $3,500 per ounce mark for the first time ever, driven by escalating global economic tensions and political uncertainty.

Market tensions fuel surge in gold prices

The precious metal reached a record $3,500.10 before settling at $3,467.87 by 7:30 GMT. The spike comes amid rising tensions between U.S. President Donald Trump and Federal Reserve Chairman Jerome Powell, which contributed to a downturn on Wall Street.

Trade war and political friction drive safe-haven demand

Gold continues to benefit from market instability and investor fears surrounding the ongoing U.S.-China trade war. Trump's repeated attacks on the Fed, along with China’s strong opposition to U.S. trade agreements not aligned with its interests, have intensified global economic uncertainty.

Investors turn to gold as IMF forecasts loom

With the International Monetary Fund expected to release updated economic forecasts, investors are bracing for the first visible impacts of the trade war. Gold, long viewed as a safe-haven asset, has become increasingly attractive amid fears of inflation and a weakening dollar caused by potential tariffs.

Safe-haven buying accelerates amid economic unrest

Since early April, gold has seen sustained demand as a hedge against inflation and currency devaluation. The ongoing turmoil has only reinforced gold's position as a reliable store of value during times of global uncertainty.