Gold Slips After Hitting Record High Amid Global Market Selloff Triggered by Trump Tariffs

Spot gold hits $3,167.57/oz before easing as broader selloff prompts margin calls; silver, platinum, and palladium also drop.

April 4, 2025 | Gold prices pulled back on Thursday after touching a record high, as a sweeping global market selloff — sparked by US President Donald Trump’s new import tariffs — forced investors to liquidate profitable positions to cover losses elsewhere.

Also Read: Indian Markets to Open Lower After Wall Street Crash, Trump Tariffs Shake Global Sentiment

Spot gold rose to an all-time high of $3,167.57 per ounce before easing to $3,108.55, while US gold futures settled 1.1% lower at $3,132.40. The dip came after intense selling across equity and commodity markets triggered margin calls and profit-taking.

“People were selling profitable positions to cover those margins but in the long run, they’ll continue to look for safe havens and gold is certainly that,” said Peter Grant, senior metals strategist at Zaner Metals.

The broader selloff was ignited by Trump’s announcement of a 10% universal tariff on all imports and higher levies on 60 countries, raising fears of a global economic slowdown.

Also Read: Wall Street Crashes in Global Market Meltdown as Trump Defends Tariffs: “It’s Going To Be Amazing”

Despite the dip, gold remains up by over $500 year-to-date, maintaining its status as a safe-haven amid geopolitical and economic uncertainty. Central bank buying is expected to support prices through 2025.

Also Read: Trump Tariffs Target Remote Penguin Island With No Human Inhabitants

Other precious metals fell in tandem:

• Silver plunged 5.9% to $32.01, dragged by industrial demand fears.
• Platinum lost 3.1% to $952.80.
• Palladium dropped 3.5% to $935.61.

Analysts at HSBC forecast an average gold price of $3,015 for 2025, citing potential price corrections in the latter half of the year.

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Tags: gold price, Trump tariffs, spot gold, gold futures, silver price, platinum, palladium, global market selloff, safe haven, central bank gold buying, bullion market news