Safe Haven of Gold Hits a Price Milestone

It reaches $3K per troy ounce for the first time amid financial turmoil
Posted Mar 14, 2025 12:15 PM CDT
Gold Hits a Milestone, and May Keep Rising
Gold bars are shown stacked in a vault at the United States Mint in West Point, N.Y.   (AP Photo/Mike Groll, File)

The price of gold hit $3,000 per troy ounce for the first time ever on Friday, a sign that investors are looking for a safe haven amid financial uncertainty in the US and abroad. Gold is "the panic asset of choice," Jason Hollands of UK wealth manager Evelyn Partners tells CNN. The price reached as high as $3,017 Friday morning before retreating a bit back under the $3,000 mark, but the Wall Street Journal reports that it's expected to reach more new heights in the near future.

"We see uncertainty over trade and tariffs continuing to buoy gold prices—and if trade tensions intensify and we see more retaliatory measures, safe-haven demand for gold will continue," the newspaper quotes ING analysts saying in a note. Friday has been a relatively calm day on the financial front, with major markets clawing back at least part of the week's losses. The Dow was up more than 600 points in midday trading, reports CNBC. (More gold stories.)

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