Amid global trade uncertainties, gold prices continue to rise. The price of an ounce of gold reached a new record by surpassing $3,110. The surge in gold prices is attributed to concerns over global trade wars. On the first trading day of the week, gold broke the record by exceeding $3,110. Gold prices have increased by 18% since the beginning of the year. The reciprocal tariffs by Donald Trump in the US are expected to take effect on April 2. According to reports in the US media, some sectors may be exempted from tax regulations. Additionally, Trump warned of imposing a secondary customs duty of 25-50% on Russian oil if it disrupts efforts to end the conflict in Ukraine. Iran was threatened with additional customs duties and bombardment if it fails to reach a nuclear deal. On the other hand, economic data from the US increased demand for safe-haven assets. The core personal consumption expenditures (PCE) index closely monitored by the Federal Reserve exceeded expectations in February. The Core PCE released on Friday rose by 0.4% monthly and 2.8% annually. Following the data, sales accelerated in risky assets, including US stocks. San Francisco Federal Reserve President Mary Daly expressed reduced confidence in expectations of two interest rate cuts this year. Last week, Goldman Sachs raised its expectations for the price of gold to $3,300.