Gold kicked off the week by reaching a fresh all-time high, fueled by concerns over President Donald Trump's expected new round of tariffs, which have sparked fears of a global trade war.

Gold prices surged to a record high above the $3,000 mark on Tuesday, reaching the milestone for the second time within a week.

Gold prices climbed, reclaiming a modest position above $2,900 per ounce, as the global market selloff that had unsettled Wall Street began to lose momentum.

Gold remained steady after China imposed retaliatory tariffs on US agricultural goods, deepening concerns over the potential for a global trade war and increasing demand for safe-haven assets.

Gold (GC=F) rose following last week’s sharp correction, as investors weigh the economic outlook ahead of US President Donald Trump’s planned import levies on key trade partners.

Gold is on track for its first weekly loss of 2025 as investors took profits following a record-breaking rally.

Gold prices declined as the US dollar strengthened and Treasury yields climbed, putting pressure on the precious metal after it reached a record high on Monday.

Gold traded in a tight range on Wednesday, following a 1.3% drop the previous day as traders took profits from the metal's recent record-breaking surge.

Gold (GC=F) traded close to last week’s record high as the US dollar weakened, while investors closely monitored a surge in bullion-backed exchange-traded funds (ETFs) that could propel prices toward $3,000 an ounce.