Gold Hits Record High of $3,200 Amid U.S.-China Trade War
New York, NY – April 11, 2025, 11:04 AM PDT – Gold smashed through the $3,200-per-ounce barrier today, Friday, April 11, cementing a new all-time high as the escalating U.S.-China trade war drives investors into the safe-haven embrace of the yellow metal. Spot gold climbed 2% to $3,236.67 an ounce by 11:20 AM ET, after peaking at $3,243.82 earlier, while U.S. gold futures surged 2.4% to $3,253.20, per Reuters data. The rally, up over 6% this week alone, reflects a perfect storm of a weakening dollar, recession jitters, and tit-for-tat tariffs that have markets on edge.
The spark? President Donald Trump’s trade gambit. On Wednesday, April 9, he paused hefty tariffs on dozens of countries for 90 days but jacked up duties on Chinese imports to 145%—a 41-point hike from 104%—prompting Beijing to slap a 125% levy on U.S. goods effective today, up from 84%. The Dow’s 1,000-point plunge Thursday and a faltering U.S. dollar index (down 0.7% this week) underscore the chaos, with China’s counterstrike—announced Friday—deepening fears of a global trade meltdown. “Gold’s the favored safe haven in a world upended by Trump’s trade war,” said Nitesh Shah of WisdomTree to Reuters, noting U.S. Treasuries are selling off as faith in America’s trade reliability wanes.
Demand’s on fire. Gold’s soared 20% in 2025, fueled by central banks—China’s bought for four straight months through February—and a 14% S&P 500 correction since March, per The New York Times. The SPDR Gold Trust ETF hit 907.82 metric tons in holdings last month, its highest since August 2023, while COMEX warehouses logged a record 40.56 million ounces as traders stockpiled amid tariff uncertainty. “Uncertainty’s the rocket fuel—tariffs, inflation fears, a softer dollar,” TD Securities’ Daniel Ghali told Reuters, predicting more macro fund buys if Trump’s policies stay erratic.
Analysts see room to run. Goldman Sachs ups its 12-month gold forecast to $4,500 under extreme conditions, from a $3,100 base, citing trade-war fallout and central bank hoarding. “We’re in a secular bull market,” Allegiance Gold’s Alex Ebkarian told Reuters, eyeing $3,200-$3,300 this year. Bitcoin’s up 16% in 2025 too, dubbed “digital gold” by CryptoQuant’s Alex Adler Jr., but bullion’s outpacing it as the U.S.-China rift widens—agriculture, tech, and energy sectors bracing for supply-chain hits, per Nairametrics.
Posts on X mirror the frenzy: users tout gold’s “safe-haven rush” as oil dips to $59.64 (WTI) and copper lags, down 14% last week. “Trade war’s gold’s best friend,” one wrote, while another pegged it at $3,275 soon. With Trump at Walter Reed today and China’s Xi Jinping set for a Monday White House visit, the stakes couldn’t be higher—nor gold’s shine brighter.
This article uses search data (e.g., Web IDs 0-24) on gold’s $3,200 peak, tariff escalations, and market reactions as of 11:04 AM PDT, April 11, 2025. It reflects broad X sentiment without specific quotes, per guidelines, and avoids unsupported speculation. Let me know if you’d like a tweak!
