XAU/USD: Gold Prices Ease After Legendary Quarter Adds Gains Not Seen Since 1986

Fabulous run by gold, which added 19% over the first three months of 2025. Now traders want to finally see those tariff hikes. (Insert well, we’re waiting.gif)

👑 Gold Stable Ahead of Tariff Update

• Gold prices XAUUSD eased up on the attitude a little bit Wednesday morning as the deadline for Donald Trump’s tariffs was in its final countdown. It’s today when the world finds out the hand it’s been dealt — reciprocal tariffs are about to hit “all countries” and gold traders have turned defensive ahead of the news.
• Against this backdrop (and largely due to markets worrying about the prospects of gold getting slapped with a tariff), the precious metal soared in a historic run most of us have never seen.

🔥 Buying Hits Fever Pitch

• If you were born anywhere after 1986 then what you just witnessed happen to gold was like nothing ever seen before. Gold, known for its calm demeanor and safe-haven characteristics, skyrocketed 19% for the three months to March, echoing a rally last seen in 1986, the year of the Chernobyl explosion, when the metal soared 24%.
• What’s more, it clocked an all-time high on the way, hitting $3,123 per ounce as buying hit fever pitch. Central banks, investment and pension funds, and retail traders — yes, you — loaded up on bullion.

💫 Gold Prices Reverse Gains

• Gold extended its powerful upside swing on April 1, logging its 18th record high of 2025 — a rare $3,150 mark was briefly spotted. Bullish traders couldn’t hold the line and the asset reversed its gains to book a loss for the day. Early Wednesday, the prices were floating around $3,120 per ounce, patiently waiting for Trump’s update.
• Anytime now the US President should be coming out with a keenly awaited long list of tariffs where just about every country will be getting slapped with a tax charge on its imports into the US. Is gold getting a tariff? Remains to be seen.