Gold prices continue to break records due to fears of a trade war. The price of an ounce of gold is trading at $3,148. Meanwhile, a gram of gold is changing hands at 3,838 Turkish lira. Gold continues to break records amid uncertainties in global trade. The price of an ounce of gold has reached a record level of $3,148. This marks a nearly 20% increase since the beginning of the year. Donald Trump’s reciprocal tariffs are expected to take effect on April 2 in the United States. Trump has stated that customs duties will be applicable to all countries beyond a smaller group of just 10 to 15 countries. Additional tariffs on automobiles are set to be implemented on Thursday. On the other hand, economic data from the United States has increased demand for safe haven assets. The core personal consumption expenditures (PCE) index, which the Fed closely monitors, exceeded expectations in February. The Core PCE reported on Friday showed a monthly increase of 0.4% and a yearly increase of 2.8%. Following this data release, selling pressure intensified in risky assets, including U.S. stock markets. The data raised concerns about expectations for two interest rate cuts by the Federal Reserve (Fed) this year. Investors will be monitoring U.S. employment data this week. Non-farm payroll figures will be released on Friday, providing clues about the Fed’s monetary policy direction. Meanwhile, a gram of gold is changing hands at 3,838 Turkish lira. A quarter of a gold coin is trading at 6,312 Turkish lira.