{"id":2113,"date":"2025-04-12T08:10:15","date_gmt":"2025-04-12T08:10:15","guid":{"rendered":"http:\/\/softnary.com\/?p=2113"},"modified":"2025-04-15T23:05:34","modified_gmt":"2025-04-15T23:05:34","slug":"donald-trumps-trade-war-drives-rush-for-safe-haven-gold","status":"publish","type":"post","link":"http:\/\/softnary.com\/index.php\/2025\/04\/12\/donald-trumps-trade-war-drives-rush-for-safe-haven-gold\/","title":{"rendered":"Donald Trump\u2019s trade war drives rush for \u2018safe haven\u2019 gold"},"content":{"rendered":"
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People are making hundreds of pounds of profit by selling their gold<\/figcaption><\/figure>\n

Gold has hit an all-time high surpassing levels seen during the Covid-19<\/a> pandemic and the beginning of Russia<\/a>\u2019s full-scale invasion of Ukraine.<\/p>\n

The trigger? Not a confluence of factors, as it is generally, but one person \u2013 Donald Trump<\/a> \u2013 and his full-blown trade war<\/a> that has ended \u2018the world as we know it\u2019<\/a>.<\/p>\n

One product of this 21st century gold rush is a TikTok<\/a>, that has racked up millions of views, of a man casually unloading a gold bar he purchased inCostco to sell.<\/p>\n

\u2018Last year, I bought this one ounce (28 grams) gold bar for $2,359 (\u00a31,805) from Costco,\u2019 video creator Humphrey Yang explains. \u2018Today I am going to sell it\u2026\u2019 <\/p>\n

He eventually manages to sell it for $2,955 (\u00a32,258), profiting a whooping $596 (\u00a3450).<\/p>\n

It is an example of the market right now<\/a> as the precious metal surpassed \u00a32,442 per ounce on Friday morning \u2013 its highest ever price.<\/p>\n

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class=\"metro-related-video-carousel__related-video-placeholder-thumbnail\">\n\t\t\t\t\t\t\t<\/div>\n<div class=\"metro-related-video-carousel__related-video-placeholder-headline\">\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span>\n\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<div class=\"metro-related-video-carousel__related-video-placeholder\">\n<div class=\"metro-related-video-carousel__related-video-placeholder-thumbnail\">\n\t\t\t\t\t\t\t<\/div>\n<div class=\"metro-related-video-carousel__related-video-placeholder-headline\">\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span>\n\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t\t\twindow.addEventListener(‘metroVideo:relatedVideosCarouselLoaded’, function(data) {<br \/>\n\t\t\t\tif (typeof(data.detail) === ‘undefined’ || typeof(data.detail.carousel) === ‘undefined’ || typeof(data.detail.carousel.el_) === ‘undefined’) {<br \/>\n\t\t\t\t\treturn;<br \/>\n\t\t\t\t}<br \/>\n\t\t\t\tvar player = data.detail.carousel.el_;<br \/>\n\t\t\t\tvar container = player.closest(‘.metro-video-player’);<br \/>\n\t\t\t\tvar placeholder = container.querySelector(‘.metro-video-player__up-next-placeholder’);<br \/>\n\t\t\t\tcontainer.removeChild(placeholder);<br \/>\n\t\t\t\tcontainer.classList.add(‘metro-video-player–related-videos-loaded’);<br \/>\n\t\t\t});<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p>This spike has also prompted discussions on Reddit\u2019s r\/investing forum, where people are debating whether gold\u2019s rally is actually sustainable.<\/p>\n<p>\u2018Is this the start of a larger trend?\u2019 \u2018What other alternative investments are there?\u2019 \u2018What is going to happen in the next few months?\u2019 These are some of the questions users are anxiously asking.<\/p>\n<h2 class=\"wp-block-heading\">Shift towards gold \u2018well underway\u2019<\/h2>\n<p>Richard Hunter, head of markets at Interactive Investor, told <strong>Metro<\/strong> the shift toward gold is already well underway. <\/p>\n<p>\u2018The surge in popularity is already happening. The gold price is up by about 21%. That is just this year, and it is constantly testing new record highs,\u2019 he said.<\/p>\n<p>What is unusual this time is the influence of one person, the US president.<\/p>\n<p>Hunter said: \u2018There are so many factors at play, but at a high level, market crises are usually caused by a confluence of issues. This time, rather oddly, it is largely down to one person. <\/p>\n<p>\u2018The \u201ctariff trauma\u201d we are seeing is escalating daily and it is triggering a backlash against the States.\u2019<\/p>\n<p>That uncertainty has reignited interest in traditional \u2018safe havens\u2019 like gold.<\/p>\n<p>\u2018What investors have been doing is searching for haven alternatives where they hope they can ride out some of this storm,\u2019 Hunter explained.<\/p>\n<div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/22603409\" data-secret=\"WiPDvKHZPv\"><\/div>\n<p>\u2018What we have seen in the currency markets is particular strength in Swiss franc and Japanese yen. And arguably, the ultimate haven asset is gold. <\/p>\n<p>\u2018There has been, as we discussed, a real meaningful amount of investment flowing into gold.\u2019<\/p>\n<h2 class=\"wp-block-heading\">\u2018Almost guaranteed\u2019 volatility in next 90 days<\/h2>\n<p>As for what is next, Hunter stressed he can \u2018almost guarantee\u2019 volatility for the next three months as Trump announced a 90-day pause on tariffs with the exception of China.<\/p>\n<p>While the rest of the world has the period to negotiate another deal, China \u2013 the second largest economy \u2013 will have its tariffs increased to 125% from 104%.<\/p>\n<p>This came after the country announced additionaltariffs against the US earlier Wednesday.<\/p>\n<p>Hunter commented on this development: \u2018When you have got the world\u2019s two largest economies at loggerheads, it is going to show cracks in the system. And that is exactly what is happening.\u2019<\/p>\n<h2 class=\"wp-block-heading\">British shoppers flock to buy gold<\/h2>\n<p>It is not just investors pivoting toward \u2018safe haven\u2019 gold, British shoppers are as well. <\/p>\n<p>Dan Rennie, director at jeweller Rennie & Co in London, told <strong>Metro<\/strong> that the demand for gold jewellery has spiked despite the price surge. <\/p>\n<p>\u2018Ironically, with the price of gold going up, we are actually selling more of it, especially when it comes to wedding rings.\u2019<\/p>\n<p>\u2018Over the last decade or two, platinum dominated. But in the last year, we are definitely seeing a shift back to 18 karat yellow gold. <\/p>\n<p>\u2018Whether it is a fashion trend or the perception of exclusivity, people are drawn to it.\u2019<\/p>\n<p>For jewellers like Rennie & Co, the cost of gold is becoming much harder to ignore. <\/p>\n<p>Over the past year, Rennie said he has had to raise prices three or four times, not because of labour or other costs, but purely due to gold itself.<\/p>\n<p>\u2018We last adjusted maybe a month or two ago, and even now we are starting to fall behind again. So I am sure at some point we will need to reassess.\u2019<\/p>\n<p>Gold has a long track record of surging during times of crisis, with people rushing to buy as trust in institutions wobbled.<\/p>\n<p>Prices soared in the aftermath of 9\/11 and during the 2008 financial crash, and hit previous record highs again during the pandemic. <\/p>\n<p class=\"\"><strong><strong><strong>Get in touch with our news team by emailing us at <a rel=\"noreferrer noopener\" href=\"mailto:webnews@metro.co.uk\" target=\"_blank\">webnews@metro.co.uk<\/a>.<\/strong><\/strong><\/strong><\/p>\n<p class=\"\"><strong>For more stories like this, <\/strong><a rel=\"noreferrer noopener\" href=\"https:\/\/metro.co.uk\/news\/\" target=\"_blank\"><strong>check our news page<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>People are making hundreds of pounds of profit by selling their gold Gold has hit an all-time high surpassing levels seen during the Covid-19 pandemic and the beginning of Russia\u2019s full-scale invasion of Ukraine. The trigger? Not a confluence of factors, as it is generally, but one person \u2013 Donald Trump \u2013 and his full-blown […]<\/p>\n","protected":false},"author":1,"featured_media":300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-2113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-russia-ukraine"],"_links":{"self":[{"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/posts\/2113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/comments?post=2113"}],"version-history":[{"count":2,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/posts\/2113\/revisions"}],"predecessor-version":[{"id":2116,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/posts\/2113\/revisions\/2116"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/media\/300"}],"wp:attachment":[{"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/media?parent=2113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/categories?post=2113"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/softnary.com\/index.php\/wp-json\/wp\/v2\/tags?post=2113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}