Gold’s strong rise continues, with the precious metal hitting a fresh record on Thursday as investors rush to shield their portfolios from mounting trade tensions and economic uncertainty.
Spot gold as tracked by the SPDR Gold Trust (NYSE:GLD) traded at $2,969 per ounce at 10:52 a.m. ET, gaining 1.2% and marking its third consecutive session of gains. The metal surged 13% so far in 2025, outpacing every other major asset class.
The S&P 500 — tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) — is down 5.2%, Bitcoin (CRYPTO: BTC) has lost 12% and the U.S. dollar index has slipped 4% year-to-date.
Why Is Gold Soaring?
Gold’s rally is driven by a cocktail of economic and geopolitical risks. President Donald Trump‘s administration has reignited fears of a global trade war, by threatening countries with high tariffs.
Meanwhile, signs of economic weakness are becoming …