Gold prices fell back on Thursday following a surge to record highs when President Donald Trump announced significant tariff measures. Silver also dropped over 2%. Gold initially jumped 1.1% to reach an unprecedented level, but later decreased by 0.6%. Gold is usually a safe investment in times of market uncertainty, but can also decline when investors need to liquidate assets to cover losses in other sectors. Trump’s tariffs caused turmoil in global markets, with stock markets in Asia and Europe declining and the dollar weakening. The tariffs, particularly on China and the European Union, were more severe than anticipated. Investors turned to gold due to concerns about the global economy and trade tensions, driving the metal's value up by 20% this year. Analysts predict continued demand for gold from central banks, exchange-traded funds, and Chinese insurers. Gold was exempt from the tariffs, mitigating the risk of price differences between the US and global markets. Conversely, silver and palladium are expected to suffer as a result of reduced global growth from the tariffs. At the time of reporting, spot gold was down 0.3% while silver, palladium, and platinum also experienced declines.