Gold prices scaled an all-time high on Friday, briefly touching the $2,800 mark, as market participants rushed to the safe-haven asset after U.S. president Donald trump reiterated his tariff threats.

Gold prices rose to hit a lifetime high on Thursday while the focus was also on a crucial inflation report for clues on the Fed's policy path.

Gold is on track for its best monthly performance since March last year as sentiment remains strong and participants consider the possible influence of American politics. Both it and the dollar remained strong this week as the Federal Reserve (‘the Fed’) held rates and the European Central Bank (‘the ECB’) cut as expected.

Gold is considered a safe investment during geopolitical turmoil and thrives in a low interest rate environment

This also comes after the US Federal Reserve (Fed) kept interest rates unchanged at 4.25-4.5 per cent on Wednesday.

Gold prices hit a record high on Friday, set for their best month since March 2024, as investors flocked to the safe-haven metal due to heightened U.S. tariff concerns, while awaiting a key inflation report for further direction.