The most highly anticipated week of the year and quite possibly the most pivotal moment in economic history is finally here – as President Donald Trump prepares to announce a sweeping round of reciprocal tariffs that threaten to trigger a destructive global trade war.
President Trump has dubbed April 2 as “Liberation Day” for America – when he will impose retaliatory tariffs on all countries around the world that tax U.S exports – promising to match the tariffs they levy on the United States.
On Sunday, Trump warned that tariffs would include “all countries” and not just those with the largest trade imbalances with the U.S. The president expects the United States could raise over $600 Billion a year from tariff revenues, which would amount to the largest tax increase since World War II.
According to analysts at GSC Commodity Intelligence – “there is no denying, that Trump’s Tariff Day will ultimately mark the biggest escalation of global trade wars to date. A scenario that could spur a significant shift in price hikes for consumers and unleash a resurgence of inflation in Q2 2025”.
In the lead-up to “Liberation Day,” the closely watched Economics Global Trade Policy Uncertainty Index is now at the highest it’s ever been. The Index topped 10 for the first time, exceeding the previous high it reached during the COVID-19 Pandemic, as well as the level reached during the 2008 Global Financial Crisis.
While Trump calls it “Liberation Day”, many of the world’s leading economists are convinced a far more appropriate and fitting label is “Demolition Day”.
One of the biggest beneficiaries of President Trump’s America First economic agenda has undoubtedly been Gold.
Since President Trump took office in January – Gold prices have been on an unstoppable run – scaling new all-time record highs – not once, not twice, but on 21 separate occasions, so far in 2025.
Yes, you read that correctly.
Gold has set new all-time record highs 21 times, within the last 70 days alone.
On Monday, Gold prices skyrocketing to a new all-time record high – soaring above $3,149 an ounce for the first time ever to post its biggest quarterly performance in over 40 years.
Gold has now officially closed the first quarter of 2025 with an impressive 20% gain. But even more remarkably, Gold prices have now chalked up a whopping gain of more than 70% from this time a year ago.
In recent days, a long list of the world’s most powerful Wall Street banks have raised their price forecasts, with extremely bullish calls for Gold prices to top new all-time record highs throughout the year.
The two most bullish forecasts come from French bank Société Générale – who see the potential for Gold prices to exceed $4,000 an ounce in 2025. Meanwhile, Goldman Sachs has gone one further by calling for Gold to surpass $4,500 an ounce within the next 12 months under extreme market conditions.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
