Gold prices surged to a record high on Friday, as investors flocked to the safe-haven asset amid fears of a global trade war triggered by U.S. President Donald Trump's latest tariffs. Spot gold climbed 0.

The price of gold, which has been rising for well over two years, has hit yet another record high price – the 17th time so far this year that the precious

Despite a bumpy stock market, gold prices are hitting record highs. This week, Bank of America considerably increased its gold forecast for this year and next. In mid-March, gold surpassed $3,000 per ounce for the first time in its history.

Futures surpassed $3,110 ahead of the Trump administration's reciprocal tariffs, expected to be announced next week as 25% levies are put on foreign autos. A weaker US dollar ( DX-Y.NYB) has also supported higher gold prices.

US prices of copper have been on a tear this year due to the fear that tariffs will be imposed on imports of the red metal. Futures prices have hit record highs on New York’s Comex, leading to a premium over the international benchmark in London — similar to the disconnect seen in the gold market.