Gold prices continue to rise due to uncertainties in global trade. On the first trading day of the week, the price of gold surpassed $3,110, setting a new record. Since the beginning of the year, gold prices have increased by 18%. In the US, Donald Trump’s reciprocal tariffs are expected to go into effect on April 2nd. Reports in the US media suggest that some sectors may be exempt from tax regulations. Furthermore, Trump warned that if Russia hinders efforts to end the war in Ukraine, secondary customs duties of 25-50% will be imposed on Russian oil. He also threatened Iran with additional customs duties and bombardment if they fail to reach a nuclear agreement. Economic data from the US has increased demand for safe haven assets. The Core Personal Consumption Expenditures (PCE) index exceeded expectations in February. The Core PCE reported on Friday showed a 0.4% monthly increase and a 2.8% annual increase. Following the data release, selling pressure increased in risky assets, including US stock markets. San Francisco Fed President Mary Daly expressed diminishing confidence in expectations for two interest rate cuts this year. Goldman Sachs raised its expectations for the price of gold to $3,300 last week.