Last week, after President Donald Trump announced tariffs on goods from around the world, markets plunged along with shares of major companies such as Apple, Nike and Bank Of America. Meanwhile the price of gold rose to an all-time high,

The dollar has weakened by 8% in 2025—meanwhile, gold prices have soared by 23% as investors and central banks rethink safe haven assets.

Gold rose more than 1% on Thursday as investors flocked to safe-haven bullion after the U.S. hiked tariffs on China, the top metals consumer, escalating the already heated trade war, despite a 90-day pause on tariffs for other countries.