Gold prices surged to a record high on Thursday, as fears of a global trade war sparked by U.S. President Donald Trump's tariff threats fueled safe-haven demand for the precious metal. Spot gold rose 0.

Gold approaching $3,000 an ounce is priced so far ahead of inflation that the yellow metal GC00 is unlikely to produce a positive real (inflation-adjusted) return in coming years.

Gold prices and the U.S. dollar typically have an inverse relationship, but that's been changing. Here's what to know now.

Investors are flocking to gold amid economic uncertainty, driving prices to record highs. Concerns over Trump’s trade policies and inflation have increased demand for gold, leading analysts to raise price forecasts significantly for 2025.