(Kitco)—Gold futures closed above $3,000 per troy ounce for the first time in history, marking an unprecedented milestone in the precious metals market. This historic breakthrough comes amid escalating global trade tensions and geopolitical uncertainties that have created what analysts describe as a “perfect storm” for gold prices.
The April gold futures contract reached $3,001.10 as of 7:05 PM EST, following a steady climb throughout the week. Gold gained $21.50 on Tuesday to reach $2,920.90, held steady around $2,927 on Wednesday, and surged $44.50 on Thursday to close at $2,991. Today’s trading saw an opening of $3,001.40, with prices ranging between an intraday high of $3,017.10 and a low of $2,988.60, ultimately settling with a $9.80 net gain.
The surge in gold prices has been fueled by increasing safe-haven demand amid President Trump’s aggressive trade policies. Investors are particularly concerned about the recent tariff escalations targeting China, Canada, and Mexico, with the European Union now in the crosshairs as well.
“I’m not going to bend at all,” Trump declared to reporters at the White House when questioned about his tariff stance. When asked specifically about reconsidering the fresh round of tariffs set to take effect on April 2, his response was a definitive “No.”
Market anxiety intensified after Trump announced plans to double proposed tariffs on Canadian metals to 50%, with enforcement beginning Wednesday. He further threatened a 200% tariff on champagne and other alcoholic products from the European Union, signaling an expansion of his protectionist trade agenda.
MT NEWSWIRES noted: “President Trump’s rapid move to announce, if not always to enact, import tariffs has contributed to geopolitical uncertainty and boosted inflation expectations, helping push down front-end real rates and supporting gold in the face of periodic USD strength and initially reduced expectations for Fed rate cuts.”
Ongoing conflicts in the Middle East and the Russia-Ukraine war have added to the geopolitical tensions driving investors toward gold. Market analysts watching the situation unfold commented, “These escalating trade measures have strengthened genuine concerns about a potential U.S. economic contraction.”
Analysts are increasingly bullish on gold’s prospects. Macquarie Group recently raised its forecast, predicting that gold will reach $3,150 by the third quarter—a significant revision from their earlier forecast of $2,650 for last year.
The inflationary pressures resulting from increased tariffs could potentially force the Federal Reserve to reconsider its interest rate policy. Rather than pursuing interest rate normalization as planned, the Fed might need to raise rates to combat inflation, similar to their response during the pandemic.
Based on current market dynamics and the confluence of multiple supportive factors, analysts project gold prices could reach between $3,330 and $3,400 by the end of the fourth quarter.
This convergence of trade tensions, geopolitical conflicts, and shifting monetary policy expectations has created a powerful synergy that continues to drive gold to new heights as investors seek stability in uncertain times.
Gary S. Wagner has been a technical market analyst for 25 years. A frequent contributor to STOCKS & COMMODITIES Magazine, he has also written for Futures Magazine as well as Barrons. He is the executive producer of “The Gold Forecast,” a daily video newsletter.
He has been a speaker for financial seminars including Futures West and the Dow Jones Financial Symposium which travels throughout the world.. Coauthor of “Trading Applications Of Japanese Candlestick Charting” a John Wiley publication.
Independent Journalism Is Dying
Ever since President Trump’s miraculous victory, we’ve heard an incessant drumbeat about how legacy media is dying. This is true. The people have awakened to the reality that they’re being lied to by the self-proclaimed “Arbiters of Truth” for the sake of political expediency, corporate self-protection, and globalist ambitions.
But even as independent journalism rises to fill the void left by legacy media, there is still a huge challenge. Those at the top of independent media like Joe Rogan, Dan Bongino, and Tucker Carlson are thriving and rightly so. They have earned their audience and the financial rewards that come from it. They’ve taken risks and worked hard to get to where they are.
For “the rest of us,” legacy media and their proxies are making it exceptionally difficult to survive, let alone thrive. They still have a stranglehold over the “fact checkers” who have a dramatic impact on readership and viewership. YouTube, Facebook, and Google still stifle us. The freer speech platforms like Rumble and 𝕏 can only reward so many of their popular content creators. For independent journalists on the outside looking in, our only recourse is to rely on affiliates and sponsors.
But even as it seems nearly impossible to make a living, there are blessings that should not be disregarded. By highlighting strong sponsors who share our America First worldview, we have been able to make lifelong connections and even a bit of revenue to help us along. This is why we enjoy symbiotic relationships with companies like MyPillow, Jase Medical, and Promised Grounds. We help them with our recommendations and they reward us with money when our audience buys from them.
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Even our faith-driven precious metals sponsor helps us tremendously while also helping Americans protect their life’s savings. We are blessed to work with them.
Independent media is the future. In many ways, that future is already here. While the phrase, “the more the merrier,” does not apply to this business because there are still some bad actors in the independent media field, there are many great ones that do not get nearly enough attention. We hope to change that one content creator at a time.
Thank you and God Bless,
JD Rucker
