Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Investing

Gold Price Hits New Record, Breaking US$3,000 for First Time

by admin March 15, 2025
March 15, 2025
Gold Price Hits New Record, Breaking US$3,000 for First Time

The gold price reached yet another record high on Friday (March 13), breaking US$3,000 per ounce.

The precious metal has gained significant momentum since the beginning of the year. In early morning trading on Friday, it briefly surged to US$3,004 per ounce before falling back to US$2,989.

Friday’s rise comes amid heightening trade tensions between the US and its European partners. On Thursday (March 13), President Donald Trump threatened to impose significant tariffs on key European products, including wine.

Gold price chart, March 7 to March 14, 2025

The threats come during a week of flared tempers, which saw Ontario Premier Doug Ford impose a 25 percent surcharge on electricity exports to the US on Tuesday (March 11). Although the charges were withdrawn after the two sides agreed to meet in Washington on Thursday, there is still much uncertainty about Canada-US relations, as well as US relations globally.

Broad 25 percent tariffs on all steel and aluminum imports to the US went into effect on Wednesday. Canada quickly applied retaliatory tariffs on US$20 billion worth of goods, while the EU responded with tariffs on US$28 billion worth of goods. Trump had threatened to boost the tariffs on Canadian steel and aluminum to 50 percent, but backed down for now after Ford withdrew the 25 percent electricity surcharge.

Trump has also said he will impose further tariffs on auto imports by April 2, creating significant uncertainty for manufacturers and businesses that rely on cross-border trade.

Additional tailwinds to gold’s momentum this week came from the release of US consumer and producer price index data released on Wednesday (March 12) and Thursday, which show that inflation has become stuck. This adds more fuel to recession speculation and buoys gold.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Boss Energy Boosts Stake in Laramide Resources to 18.4 Percent
next post
Injunction lifted on Trump executive orders slashing federal DEI support

Related Posts

Drill Contract Awarded for Elizabeth Hill. Technical Visit...

May 9, 2025

John Feneck: Gold Backdrop Looks “Amazing,” Plus 7...

April 22, 2025

Top 5 Canadian Mining Stocks This Week: Group...

May 11, 2025

Radiopharm Theranostics Doses First Patient with 18F-RAD101 in...

April 29, 2025

Skyharbour’s Partner North Shore Uranium Signs Exploration Agreement...

March 21, 2025

Growth-Focused Gold Explorer: Torque Metals and Aston Minerals...

January 28, 2025

Collaboration with DuPont Water Solutions to Test Lithium...

April 17, 2025

Tech 5: Intel Faces M&A Rumors, Apple Debuts...

February 23, 2025

Fury Gold Mines Advances Québec Precious Metals Acquisition

March 28, 2025

Syntheia Signs Non-Binding LOI for Call Center Acquisition

May 17, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 4

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 5

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved