Trump Tariffs: Gold Breaks All Records – Turmoil in Global Markets

The announcement of shocking tariffs on products from European Union countries, China, Japan, Mexico, and Canada has caused a ‘quake’ in markets that are anxiously awaiting the response of the affected nations. On Thursday morning (April 3, 2025), the price of gold broke all records. The price of gold surged past $3,150 in the early hours following the announcement of a tariff storm by U.S. President Donald Trump, which specifically targets Asia and the European Union. Around 02:20 (Greek time), the ounce of the precious metal recorded an increase of 0.80%, reaching a new historic high at $1,319. The previous record was set just the day before on Tuesday. In forex markets, the Swiss franc, generally considered a safe-haven asset by financial intermediaries, rose by 1% against the U.S. dollar.