Gold hit a fresh new record high of $3,135, marking the largest quarterly gains in 38 years.
Trump tariffs have escalated concerns about an inflationary global economy, forcing investors to rush toward safe-haven assets like gold.
Gold prices are still trading around an all-time high after hitting a fresh record price of $3,135 per ounce during the early morning European market session.
The precious metal has increased by more than 8.44% in the last 30 days.
The appreciation marks a 19% value gain for Q1 in 2025, which makes it the most profitable quarter for gold in 38 years.
Top on the list of factors fueling this bullish run for the yellow metal is the upcoming announcement of the biggest wave of trade tariffs by the Trump administration.
These will affect all nations that trade with the US and analysts are fearful that they may slow down economic growth in the US.
The economic and political volatility caused by the tariffs across the world has also seen investors rush to the safe haven asset. And to understand the impact that fear of trade tariffs has had on prices, you only need to look at its price chat.
You will notice that close to half of the gold gains were made in the last 30 days. Similarly, gold ETFs recorded a one-day gold inflow of 23 tonnes, the largest since 2022.
Gold’s Next Price Action
From a technical perspective, the chart shows a strong uptrend in gold prices, especially on the daily timeframe. At press time, Gold has an RSI of over 78.21, signalling an overbought condition.
The MACD line is well above the signal line, confirming strong bullish momentum and the histogram bars are green and increasing, further reinforcing the strength of the uptrend.
The price continues to make higher highs and higher lows, indicating a strong uptrend and there are no signs of exhaustion, meaning the bulls remain in control.
Going into April, a short-term pullback may occur due to profit-taking, but gold will likely keep trending higher as long as buyers remain dominant.
Should You Buy Gold Right now?
Yes, considering the strong bullish momentum, any dips may be buying opportunities rather than a trend reversal.
However, watch out for volume levels and potential divergences in RSI or MACD. These will signal early signs of a slowdown.
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