Gold is shining brighter than ever.
The spot price of the precious metal hit a record $3,578.40 per ounce early Tuesday morning, with bullion considered a safe investment during this period of widespread economic uncertainty.
Gold prices have risen by nearly a third this year, hitting new heights with the commencement of a trade war. The previous intraday record of $3,509.90 an ounce was set in April, shortly after President Donald Trump announced a range of tariffs that sent the global economy into turmoil.
“The current surge in gold demand is a direct reflection of global economic uncertainty,” Sean Hoey, managing director of private storage facility IBV International Vaults London, told Robb Report in an email. “With inflation concerns rising and geopolitical tensions showing no signs of easing, investors are increasingly turning to gold as a safe-haven asset.”
Tariffs aren’t the only thing driving up the price of gold, though. News that the U.S. Federal Reserve may cut interest rates and questions over the independence of the U.S. central bank have made the metal even more attractive to investors.
The climbing price of gold is pushing up the cost of gold Rolexes.
Rolex
“At IBV Gold, we are seeing a sharp rise in clients purchasing both physical gold and precious metals in order to secure their investments, and an increase in investors choosing to immediately store assets in private vaults where they are protected, accessible, and insulated from broader market volatility,” Hoey adds.
The price of gold followed a similar upward trajectory in 2023, with fluctuating interest rates, banking issues, and fears of a recession contributing to the boom. In 2024, gold prices rose by nearly 40 percent, with both individuals and countries viewing it as a solid investment amid the ongoing economic instability.
The climbing price of gold is having a direct effect on the watch and jewelry industry. Rolex hiked the prices of its gold timepieces at the start of the year. The cost of the Rolex Deepsea, for example, jumped 11.33 percent from $52,100 in 2024 to $58,000 in 2025. Demand for the Crown’s gold watches on the secondary market is also on the rise. And as Trump has slapped a 32 percent tariff on Swiss exports, prices for new gold Rolexes could increase further still. At least you can look at any gold wrist candy as an investment.