Gold Price Breaks $3,200, Another New Record

By Rob Bates | April 14, 2025

Gold hit a record price on Friday, reaching $3,245 an ounce at one point as it soared above $3,200 an ounce for the first time.

At press time on Monday, the yellow metal was trading at $3,202 an ounce.

Following President Trump’s announcement of worldwide tariffs on April 2, the gold price fell (along with stock markets worldwide), at one point sinking below $3,000 an ounce. But when Trump paused some tariffs a week later, bullion restarted its relentless climb upward.

In the wake of continuing global economic turmoil, gold is playing its traditional role as a “safe haven,” and major financial institutions are betting its spot price will keep heading higher.

Goldman Sachs is now predicting gold will hit $3,700 by the end of the year, while Swiss bank UBS raised its price forecast for 2025 to $3,500.

“The case for adding gold allocations has become more compelling than ever in this environment of escalating tariff uncertainty, weaker growth, higher inflation, and lingering geopolitical risks,” UBS strategist Joni Teves said in a research note obtained by Mining.com.

All in all, the gold price has climbed 23% since the beginning of the year.

(Photo: Getty Images)