In a significant development for precious metals markets, both gold futures and spot gold have surpassed the landmark $3,000 per troy ounce threshold. As of 5:20 PM ET, the most active April gold futures contract settled at $3,010.10, reflecting a daily gain of $13.90 or 0.46%. Simultaneously, physical gold reached $3,001.13, advancing by $16.22 or 0.54%.

Gold futures closed above $3,000 per troy ounce for the first time in history, marking an unprecedented milestone in the precious metals market. This historic breakthrough comes amid escalating global trade tensions and geopolitical uncertainties that have created what analysts describe as a "perfect storm" for gold prices.

For the first time in history, gold futures have crossed the elusive $3,000 per ounce threshold. This remarkable achievement follows a dramatic price surge from just below $2,700 per ounce at the beginning of this year. As of 4:15 PM ET, gold futures for the most active April contract are fixed at $3,001.30, representing today's impressive gain of $57.90 (1.97%).

Gold prices climbed today driven by safe-haven buying as President Trump's 25% tariffs on steel and aluminum took effect. The precious metal advanced despite February's Consumer Price Index showing inflation rising less than expected at the slowest pace in four months. April gold futures increased by $20.60 (0.70%) to close at $2,943.40, marking the second significant daily gain this week.

Gold futures climbed significantly Tuesday as investors sought shelter from market uncertainty triggered by President Trump's expanding tariff policies. The precious metal rose $23.60 (0.81%) to $2,923.10 for the most active April contract as of 3:55 PM EST.

Gold prices edged lower at week's start alongside broader declines in risk assets. Gold futures declined $14.70 (0.5%) to settle at $2,899.40, just below the psychologically important $3,000 threshold. This pullback coincided with the Dow Jones Industrial Average tumbling to its lowest point since November 4, 2023, closing over 2% down for the session.

Gold futures closed lower on the day down $2.10 (-0.07%) but still managed to eke out a gain on the week (+$50.40 1.76%) due to Monday’s and Tuesday’s massive safe-haven demand. Safe haven buying came into the market as a reaction to Tuesday’s steep tariffs implemented on America’s three biggest trading partners Mexico, Canada, and China.

The U.S. dollar experienced a dramatic selloff this week, plunging more than 3% against major currencies as markets reacted to sweeping new tariff policies implemented by the Trump administration.

Gold prices struggled to maintain momentum Wednesday despite the U.S. dollar falling to a four-month low, breaking the precious metal's pattern of gains seen earlier this week amid escalating global trade tensions.

Gold prices continued to gain value, moving higher in New York trading today, as market participants seek safety after president Donald Trump launched import tariffs against Canada and Mexico today launching a trade war against America’s largest and most important trading partners.