Key Takeaways Gold price surged to a fresh record past $2,900 Monday as President Trump announced 25% tariffs on steel and aluminum imports and investors brace for inflation data later this week.Since breaking out above a symmetrical triangle last month,

Gold prices soared to a record high on Tuesday, as investors flocked to the safe-haven asset after U.S. President Donald Trump imposed new 25% tariffs on steel and aluminium imports, fuelling concerns over a potential trade war and inflation.

Up 44% over the last year, gold has been by far the best-performer across a basket of 12 leading global asset classes over the period, according to the BlackRock Investment Institute, most notably trouncing the 22% return for the S&P 500 over the last year, including reinvested dividends.