Don't Blame Tariffs on Gold Prices — The Real Problem Lies Elsewhere

Gold has surged 46% from January 2024 to February 23, 2025—more than double the gains of the S&P 500 (26%) and NASDAQ (30%). While many headlines blame tariffs for recent gold price fluctuations, the reality behind gold’s price movement is far more complex. The issue isn’t tariffs themselves but the systemic cracks in the global monetary system that have been forming long before these trade policies were enacted. Understanding the Impact of Tariffs on Gold To better assess the effect of tariffs, it's useful to review past data. On March...