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March 31, 2025 | 05:46 pm
TEMPO.CO, Jakarta - The global gold price has once again reached a record high, surpassing US$ 3,100 per troy ounce on Monday, March 31, 2025.
According to Trading Economics, gold surged to US$ 3,124 per troy ounce at 13:00, marking its highest level yet. Economists attribute this spike to a growing demand for safe-haven assets, particularly as concerns over a global trade war intensify.
The escalating trade tensions stem from U.S. President Donald Trump’s tariff hikes, prompting investors to seek refuge in gold. Economist and capital market analyst Ferry Latuhihin emphasized that gold has become one of the most preferred investment choices amid global uncertainty.
"People are reluctant to hold dollars, so they turn to gold. That's why the gold price is now over US$ 3,000," he said to Tempo on Saturday, March 29, 2025.
According to him, gold is more durable. Ferry believes that gold will be increasingly sought after due to Trump's leadership and the series of tariff policies implemented by the Republican Party president.
"Because Trump will cause chaos for five years. So, for these 5 years, people will choose gold," he said.
Similar statements were made by capital market analyst Ibrahim Assuabi. Gold in yesterday's trading touched the level of US$ 3,077 per ounce. He believes that the price will continue to soar.
"There are indications that the world gold price will continue to rise. Because Trump will impose tariffs on all importers from countries that buy oil or gas from Venezuela, which will take effect starting from April 2," he said.
This policy has raised concerns over oil supply chain disruptions, further exacerbated by tensions in the Middle East. With these factors in play, experts predict that gold prices will continue to climb.
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