After Trump's move, gold broke its all-time record.

28.03.2025 09:02

Following U.S. President Trump's announcement that "a 25% tariff will be imposed on cars not produced in the U.S.," the price of gold per ounce reached a record high, surpassing $3,077, marking the highest level ever. The price of gold per gram started the day with a 0.67% increase and is currently trading at around 3,756 TL in the markets.

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Trump signed a decree aimed at applying a 25% customs tariff on imported cars and trucks to increase domestic production.

Speaking at the signing ceremony held at the White House, Trump described this as "the beginning of America's day of liberation." Trump stated, "What we will do is apply a 25% customs tax on all cars not produced in the USA." He noted that there would be no tariff if produced in the USA, and reported that companies are returning to the USA to avoid paying customs duties.

TRADE WAR SPARKED

Following Trump's decision to impose a 25% customs tax on all car imports, concerns about the expansion of the trade war directed investors towards safe-haven assets. On Friday, it rose by 0.7%, surpassing $3,077 per ounce and reaching an all-time high.

The precious metal, which broke the record on Thursday, is heading for its fourth consecutive weekly gain.

GRAM GOLD ALSO INCREASED

Following the rise in gold prices per ounce, gram gold prices are also increasing. The gram price of gold started the day with a 0.67% increase, trading at around 3,756 TL in the markets.

GOLD HAS SET A RECORD FOR THE 17TH TIME THIS YEAR

Starting the new year at around $2,620 per ounce, gold has gained approximately $440 in value since the beginning of the year, setting a record 17 times this year.

GOLD HAS THE WIND AT ITS BACK

Capital.com financial market analyst Kyle Rodda stated, "Gold currently has the wind at its back. Factors such as the US's trade policies, fiscal policies, geopolitical risks, and the slowdown in economic growth are supporting gold prices," and noted that the $3,100 level could be a critical threshold.

GOLD PRICE FORECAST REVISED UPWARD

Major banks have revised their price forecasts for gold upward. Goldman Sachs raised its year-end price forecast for gold to $3,300 this week. The bank cited high demand from central banks and strong inflows into gold-backed exchange-traded funds (ETFs) as the main reasons for this increase.