Gold price hits record high above $3K as investors spooked by tariff fears seek safe haven

New York Post - Mar 14th, 2025

Gold prices surged to a record high of over $3,000 per ounce on Friday as investors sought a safe haven amidst fears that President Trump's tariff policies might exacerbate inflation and trigger an economic slowdown. Although the price later dipped below the $3,000 threshold, strategists from Macquarie and RBC Capital Markets anticipate further increases, projecting gold could reach as high as $3,500 by the third quarter. This rising demand has also been fueled by businesses stockpiling gold in anticipation of potential tariffs on gold imports, and central banks diversifying away from U.S. dollar reserves.

The broader market is experiencing significant turbulence, with the S&P 500 entering correction territory after a 10% decline over the past month. This volatility is largely attributed to uncertainty surrounding Trump’s tariff policies, which have included threats of steep levies on products from Canada, Mexico, China, and the European Union. The resulting retaliatory measures have further exacerbated market instability. Tech giants, particularly the “Magnificent 7,” have seen their valuations shrink by over $1.5 trillion since the start of 2025, underscoring the widespread economic impact of the ongoing trade tensions.

S&P 500 Trump Tariffs Trade Policies Gold Prices Inflation Fears Economic Slowdown Macquarie Rbc Capital Markets Central Banks Magnificent 7

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RATING

5.8

Moderately Fair

Read with skepticism

The article provides a timely and relevant overview of the economic impacts of tariffs and gold prices, capturing the immediate concerns of investors. It includes credible insights from financial strategists, but lacks detailed sourcing and a diversity of perspectives, which limits its depth and balance. The clarity and readability are generally strong, though the structure could be improved for better comprehension. While the story addresses significant public interest topics, its potential impact is constrained by a lack of in-depth analysis and transparency. Overall, the article effectively highlights key economic issues but would benefit from more comprehensive coverage and verification of claims.

Accuracy

The story reports that gold reached a record high price of over $3,000 per ounce, which is consistent with current market data. However, the claim that tariffs could reheat inflation and cause an economic slowdown needs further verification, as it is speculative without direct evidence. The story also mentions central banks buying gold to diversify away from the US dollar, which aligns with known trends, but specific data supporting this claim is not provided. The details about the S&P 500 falling into correction and the loss in tech stocks' valuation are plausible but require confirmation through financial reports. The mention of specific tariffs imposed by President Trump is accurate, but the story should cite official announcements or economic analyses to bolster these claims.

Balance

The story primarily focuses on the economic impacts of tariffs and gold prices, presenting a perspective that leans towards the negative implications of these policies. While it mentions strategists from Macquarie and RBC Capital Markets, it lacks input from other stakeholders, such as government officials or economists who might provide a counterbalance or alternative explanations. The narrative could benefit from a more diverse range of viewpoints to avoid bias and provide a comprehensive picture of the situation.

Clarity

The article is generally clear and concise, presenting information in a straightforward manner. It effectively communicates the key points about gold prices and economic concerns. However, the structure could be improved by organizing the information in a more logical sequence, perhaps by separating the discussion of gold prices from the broader economic context. This would enhance readability and comprehension.

Source quality

The story cites strategists from Macquarie and RBC Capital Markets, which are credible financial institutions, lending some reliability to the projections mentioned. However, the lack of direct quotes or references to specific reports weakens the authority of these claims. The story would be strengthened by including more detailed attributions or references to published reports or statements from these sources.

Transparency

The article does not provide sufficient context or methodology behind the claims made. For instance, the basis for the projected gold prices or the specific impacts of tariffs on the economy is not explained in detail. The lack of transparency regarding the sources of information and the methodology used to arrive at these conclusions limits the reader's ability to fully understand the basis of the claims.