Gold prices hit a record at the start of the new quarter as a major escalation in US President Donald Trump‘s trade tariffs due this week heightened concerns about the global economy. Bullion neared $3,150/oz, on pace for a fourth day of gains. Traders are on edge as Trump plans to announce sweeping levies on all of US trading partners on Wednesday, raising the risks of retaliatory measures. Gold has been one of the strongest performing commodities this year, posting its best quarter since 1986.
