The price of gold soared to a remarkable peak of $3,168 per troy ounce in response to recent tariff announcements from US President Donald Trump. However, this rally was short-lived, as the price swiftly retraced significantly. Commerzbank’s commodity analyst Carsten Fritsch provided insights into this dramatic move. He noted that although the initial surge indicated strong market reactions, the subsequent fall highlights the volatility inherent in the gold market. Investors should remain cautious as fluctuations continue to shape the landscape of precious metals.