Gokhan Ergocun
14 March 2025•Update: 14 March 2025
ISTANBUL
The price of gold on Friday exceeded $3,000 for the first time in history amid uncertainties caused by US President Donald Trump's trade policies.
The ounce of gold rose 0.3% to $3,002.15 on Friday as of 1015GMT.
The safe haven asset has gained over 10% since Trump took office on Jan. 20.
Starting 2025 at $2,620, it has gained around $358 in value since the beginning of the year.
While the ounce price of gold rose around 27% in all of last year, so far this year it has already gained around 14%.
Trump's 25% tariffs on all steel and aluminum imports took effect on Wednesday.
On March 4, Trump also imposed 20% tariffs on China.
He also threatened to impose 25% tariffs on Canada and Mexico, but later postponed those tariffs after negotiations with the two countries' leaders.
On Thursday, Trump threatened to impose 200% tariffs on alcohol drink imports from the EU unless the union withdraws a 50% tariff on American whiskey.
The president's tariff threats continue to stoke fears of a further global trade war as countries vow to take retaliatory measures.
