On the 13th (local time), international gold prices surpassed $3,000 (about 4,368,900 won) per ounce, setting a new all-time high. This is due to the uncertainty surrounding tariffs sparked by U.S. President Donald Trump and expectations of easing currency policy from the Federal Reserve (Fed).
According to Reuters, the April gold futures price at the New York Mercantile Exchange recorded $3,000.3 (about 4,369,337 won) per ounce, up 0.31% compared to the previous session, as of 7:40 p.m. Eastern Time. This marks the 12th highest record this year. The gold spot price rose 27% last year and has jumped about 14% so far this year.
This is because Trump's tariff policy has been fluctuating, increasing uncertainty in the global economy, leading investors to prefer gold as a safe asset. Additionally, as the U.S. consumer price index in February and the producer price index fell short of market expectations, the outlook for the Fed to cut interest rates is gaining strength, which is also driving up gold prices.
For a while, gold prices are expected to rise further. Alex Evkarian, chief operating officer of Alliance Gold, told Reuters, "It seems that the bullish trend for gold prices will be prolonged," adding, "This year, gold prices are expected to trade between $3,000 and $3,200 (about 4,368,900 to 4,660,000 won)."