Gold prices reached a record high of $3,012.05 per ounce as investors sought cover from economic concerns fueled by U.S. President Donald Trump's tariff policies. The rise in gold prices is also attributed to a weaker U.S. dollar and continued tariff uncertainties. Gold has risen more than 14% this year and has hit a record high 14 times since Trump took office. The U.S. dollar index is near a five-month trough, making gold cheaper for overseas buyers. The recent Israeli air strike in Gaza may also contribute to tensions in the Middle East and further drive up gold prices.