The price of gold surged by 2.94% per ounce on Friday, reaching $3,000, marking a historic high. This is the 13th time this year that gold prices have set a record on the global market. The rise in price is largely attributed to uncertainty caused by U.S. President Donald Trump's trade policies. Specifically, gold prices hit their peak after Trump threatened to impose a 200% tariff on wine, champagne, and other alcoholic beverages from France and the European Union. This threat followed concerns over the trade impact of higher tariffs on whiskey imported to Europe. Trump's statement on social media emphasized that if these tariffs were not lifted immediately, the U.S. would soon impose a 200% tariff on all alcohol imports from these regions. This move came after the U.S. had already enforced a 25% increased tariff on all steel and aluminum imports, prompting the EU to retaliate with tariffs on $28 billion worth of U.S. goods.