Gold Price Today Hits Record $3,200 Amid Trade War Tensions

As global trade tensions escalate, investors are rushing toward safety — and gold is leading the way. The precious metal has just hit a record high of $3,200 per ounce, delivering strong returns and grabbing headlines.

But it’s not just gold that’s in the spotlight. Bitcoin, often called “digital gold,” is quietly climbing too.

U.S.-China Tariff Hike Sparks Market Jitters

The spike in gold prices follows a major move by the U.S. government, which sharply raised tariffs on Chinese imports. The new increase adds 125% more duty, bringing the total tariff to 145%. Although most other countries were given a 90-day pause on new tariffs, the focus on China has unsettled global markets.

CryptoQuant Verified Author and analyst Alex Adler Jr. believes this sharp rise in tariffs has fueled investor fears about a weakening U.S. dollar and the broader economic impact. As a result, many are turning to gold as a hedge against uncertainty.

Gold Up 20% in 2024 — Demand Soars

Gold has always been seen as a hedge against inflation and economic trouble. Since the start of the year, its price has climbed over 20%, largely driven by strong buying from foreign central banks. With the dollar losing strength and concerns about a long-lasting trade war growing, demand for the metal has surged.

Adler suggests that if tensions continue to rise, gold prices could move even higher in the coming months.

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Bitcoin Also on the Rise as “Digital Gold”

While gold is getting the spotlight, Bitcoin is also gaining attention. Often referred to as “digital gold,” Bitcoin has jumped 16% over the past year, showing steady growth despite ongoing market uncertainty.

At the moment, Bitcoin is trading at around $81,910. While it’s still below its all-time high of $109,000, this recent rise shows that investors are looking at digital assets like BTC as alternative ways to protect their wealth.

The strong performance of both gold and Bitcoin highlights a clear trend: investors are moving toward alternative assets to protect themselves from economic instability. As the trade war drags on and the dollar weakens, both physical and digital stores of value are becoming more attractive.