Gold suffered its biggest one-day drop in nearly four years Wednesday, raising questions about whether a torrid rally driven by anxiety over President Trump’s trade policies can continue.

Gold retreated after topping $3,500 an ounce for the first time as traders booked profit following a nearly 10% rally this month.

Key Takeaways Gold prices fell 4% on Wednesday, a day after hitting a record high, following comments from President Trump that allayed Wall Street's fears about an ongoing trade war with China and the White House's stand-off with the Federal Reserve.

By Brijesh Patel (Reuters) -Gold prices fell 2% on Friday and were en route for a weekly dip as the dollar rose and signs of easing U.S.-China trade tensions after a report that Beijing has exempted some U.

Gold’s record-setting rally is making ever-larger waves in China by stoking retail demand, fanning unprecedented volumes, feeding volatility, and drawing warnings from the authorities.

For centuries, gold has been the go-to haven asset in times of political and economic uncertainty. Its status as a reliably high-value commodity that can be transported easily and sold anywhere offers a sense of safety when everything else is in turmoil.

Gold has hit multiple record highs in 2025. Here's how much the price has shifted and where it could head next.