Gold prices surged to a new record on Monday, with an ounce trading at $3,127.88 amid market uncertainties linked to US trade policies.

The precious metal has gained approximately 15% since US President Donald Trump assumed office on January 20.

It started 2025 at $2,620, adding about $506 in value so far this year. In 2024, gold prices saw a 27% increase, and in the first few months of 2025, they have already risen by nearly 19%.

The surge in gold prices follows Trump’s announcement of new trade tariffs. Speaking aboard Air Force One late Sunday, Trump stated that his reciprocal tariffs would apply to “all countries,” contradicting earlier expectations that only select nations would be affected.

“You would start with all countries,” Trump told reporters. “Essentially, all of the countries that we’re talking about.”

Last week, Trump imposed a 25% tariff on all auto imports, a move aligned with his longstanding criticism of international trade practices. Market analysts suggest that ongoing trade tensions and economic uncertainty are driving investors toward safe-haven assets like gold.