Gold price (XAU/USD) initially surged above the $2,900 mark, enjoying strong positive momentum during the Asian trading session. This rise followed President Donald Trump’s announcement of sweeping tariffs on commodity imports, sparking fears of a global trade war. Gold reached a record high around $2,942 before experiencing a slight pullback. Despite the retreat, the underlying demand for safe haven assets remains robust due to ongoing uncertainties in the market. Investors should monitor gold closely as it reflects broader economic sentiments and could set trends in precious metals trading in the near term.