Record high: Gold costs $ 3,500 for the first time

The gold price at the international financial markets has increased to a record high because of the erratic US economic policy of US President Donald Trump. On Tuesday morning, a troy ounce (about 31.1 grams) cost 3,500 US dollars for the first time in the history. That is an increase of more than two percent compared to the previous evening. The gold price had increased almost three percent on Monday.

One reason for the latest profits is a new attack by US President Donald Trump on US Federal Research chief Jerome Powell. Trump again called for an interest rate reduction from the Fed and described Powell as “Mr. too late” and a “big loose”. Powell does not want to reduce interest risks after Trump’s customs circuit for the time being. At the same time, economists warn that a consequence of the international trade conflict started by Trump can be a slower economic growth or even a recession in the United States.

Trump: Almost no inflation

In the meantime, lower interest rates could accelerate inflation. Trump claimed that there is currently almost no inflation and the absence of interest rate reduction could brake. However, US consumer prices in March rose by 2.4 percent in March.

Experts also fear an inflation spurt if companies should pass on the higher costs through Trump’s tariffs to consumers. With “Mr. too late”, Trump meanwhile alluded to criticism that Powell had been waiting for too long with interest rate increases during the price increase in corona pandemic.

The gold price had increased in April because of the aggressive US customs policy and the fear of a global recession. He has risen almost twelve percent since the end of March. In the previous course of the year, the course attracted around a third after Gold had increased by 27 percent in 2024.