In this Tuesday, July 22, 2014, file photo, gold bars are stacked in a vault at the United States Mint, in West Point, N.Y. (AP Photo/Mike Groll, File)2025-04-22T15:20:05Z NEW YORK (AP) As economic uncertainty deepens worldwide, gold prices have notched more and more record highs.Thats because gold sales can rise sharply when anxious investors seek safe havens for parking their money. Golds current rally arrives as U.S. President Donald Trump s announces new tariffs on economic allies and foes alike, roiling financial markets and threatening to reignite inflation for families and businesses alike.On Tuesday, the International Monetary Fund said that outlooks for economies worldwide, including the U.S., have significantly worsened in the wake of Trumps sweeping tariffs and the uncertainty they have created. And Trumps recent threats suggesting he can remove Federal Reserve Chair Jerome Powell have only put investors more on edge.If trends continue, analysts say the price of gold could continue to climb into unprecedented territory.Heres what to know.Whats the price of gold today?The going price for New York spot gold hit a record $3,424.24 per troy ounce the standard for measuring precious metals as of close Monday. Thats about $1,097 higher than a year ago.The price of spot gold is up more than 30% since the start of 2025, per the data firm FactSet. By contrast, the stock market has tumbled. The benchmark S&P 500 is down over 12% this year.Gold futures also reached a record early Tuesday, briefly surpassing the $3,500 mark for the first time before falling closer to $3,444 by mid-morning. Why is the price of gold going up?A lot of it boils down to uncertainty. Interest in buying gold typically spikes when investors become anxious and theres been a lot of economic turmoil in recent months.The heaviest uncertainty lies with Trumps escalating trade wars. The presidents on-again, off-again new levy announcements and retaliatory tariffs from some of the nations closest traditional allies have created a sense of whiplash for both businesses and consumers who economists say will foot the bill through higher prices.Consumer confidence and global economic outlooks have deteriorated as a result. On Tuesday, the IMF said that the global economy will grow just 2.8% this year, down from its forecast in January of 3.3%. And for the U.S. specifically, the fund expects growth will come in at just 1.8% this year, down sharply from its previous forecast of 2.7%. China, which currently faces the heaviest levies from the U.S., is also expected to see weakened growth.Last week, Trump also renewed threats suggesting he could remove Powell and has since stepped up his public criticism of the Fed chair for not cutting interest rates. Any attempt to unseat Powell would likely set off a crisis in global financial markets over fears that a less independent Fed could struggle to keep inflation under control making investors all the more anxious.Over the last year, analysts have also pointed to strong gold demand from central banks around the world amid other ongoing geopolitical tensions, including the wars in Gaza and Ukraine.Is gold worth the investment?Advocates of investing in gold call it a safe haven arguing the commodity can serve to diversify and balance your investment portfolio, as well as mitigate possible risks down the road. Some also take comfort in buying something tangible that has the potential to increase in value over time.Still, experts caution against putting all your eggs in one basket. And not everyone agrees gold is a good investment. Critics say gold isnt always the inflation hedge many say it is and that there are more efficient ways to protect against potential loss of capital, such as derivative-based investments.The Commodity Futures Trade Commission has also previously warned people to be wary of investing in gold. Precious metals can be highly volatile, the commission said, and prices rise as demand goes up meaning when economic anxiety or instability is high, the people who typically profit from precious metals are the sellers.And even golds current rally has seen some volatility. The price of spot gold fell for several days following Trumps sweeping Liberation Day announcement on April 2, for example.If you do choose to invest in gold, the commission adds, its important to educate yourself on safe trading practices and be cautious of potential scams and counterfeits on the market. WYATTE GRANTHAM-PHILIPS Grantham-Philips is a business reporter who covers trending news for The Associated Press. She is based in New York. twitter mailto