The price of gold has been bursting through records in the first month of Mr. Trump’s second term, recently trading at more than $2,900 per troy ounce. It is up about 12 percent already this year, on top of a 27 percent gain last year. Many strategists are upgrading their forecasts, predicting more gains ahead.

Investors are flocking to gold amid economic uncertainty, driving prices to record highs. Concerns over Trump's trade policies and inflation have increased demand for gold, leading analysts to raise price forecasts significantly for 2025.