Gold prices hit a new peak exceeding $3,100 per ounce on Monday due to concerns about tariffs, declining yields, and a weakening dollar. Analysts at Goldman Sachs anticipate gold prices to rise to $3,300 per ounce by the end of the year. Tariff-related worries have dampened risk appetite, propelling gold to record highs as investors seek safety. Gold climbed to $3,127 per ounce on Monday, a $100 increase in less than a week. This year, gold has become a popular commodity, rising by 18.3% amidst fears of a potential trade war triggered by tariffs. The metal's upward movement was further propelled by significant losses in US stocks on Monday, as traders prepare for the impending tariff deadline set by President Trump on April 2. Concerns over escalating trade tensions have impacted the markets negatively, leading to a drop in Treasury yields. Despite stock market struggles, gold has shone bright as a safe haven investment due to tightening financial conditions, reduced bond yields, and a weaker US dollar. The current price of $3,100 per ounce exceeds earlier forecasts, with Goldman Sachs now predicting a price of $3,300 per ounce due to reshaped gold flows and increased central bank demand influenced by tariff fears. Although technical indicators suggest gold is overbought, analysts believe bullish momentum will continue, with the next resistance level expected at $3,200. However, not all analysts are convinced that gold can sustain its outperformance, with some foreseeing a decline to $1,820 in the coming years. The uncertainty surrounding tariffs is also influencing other metals, such as copper, which has retreated from a nine-month high as investors brace for potential impacts on global growth.