Gold reached a new record high due to escalating tariff tensions caused by Donald Trump. The precious metal hit an all-time peak of $3,235 per ounce as the US increased tariffs on China to 145%, prompting Beijing to retaliate with 125% levies on American goods. With a 23% climb in value this year, gold is in demand as investors seek refuge amidst market uncertainty caused by tariffs, fears of a global recession, and expectations of monetary easing. The instability in the US bond market has also fueled gold's rise, as Treasury bonds experienced unusual volatility amid the trade war. Concerns over financial stability have led to a surge in gold prices. The US bond market faced fluctuations, and as doubts grew about the American economy, bond yields increased. The Bank of England deferred a gilt auction due to market turbulence, reflecting weakening confidence. The pressure is mounting on President Trump to lower bond yields, with institutional investors diversifying and turning to gold, expecting it to gain strength. The US dollar, typically seen as a safe haven, has weakened, while the euro and pound have strengthened against it, signaling investor unease over Trump's tariff policies impacting the US economy.