Gold soared to a new record on Thursday as investors sought refuge amid escalating global trade tensions after US President Donald Trump’s announcement of new auto tariffs.在美国总统唐纳德·特朗普宣布新汽车关税后，投资者在全球贸易紧张局势升级中寻求避难，黄金周四飙升至新纪录。

Spot gold rose 1.2% to $3,055.87 per ounce by 11:30 a.m. ET, after scaling a new peak of $3,059.48 earlier. US gold futures traded 1.5% higher at $3,068.80 per ounce, having also hit an all-time high.
截至美国东部时间上午 11：30，现货黄金上涨 1.2% 至每盎司 3,055.87 美元，此前曾创下 3,059.48 美元的新高。美国黄金期货上涨 1.5% 至每盎司 3,068.80 美元，也创下历史新高。

“Looks like we’re going to see (gold futures hit) $3,100 here shortly, and the main catalyst is safe-haven buying,” said Bob Haberkorn, senior market strategist at RJO Futures, referring to market uncertainty driven by Trump’s tariff plans.
“看起来我们很快就会看到（黄金期货触及）3,100 美元，主要催化剂是避险买盘，”RJO Futures 高级市场策略师 Bob Haberkorn 表示，他指的是特朗普关税计划推动的市场不确定性。

Governments from Ottawa to Paris have threatened retaliation after Trump unveiled a 25% tariff on imported vehicles, set to come into effect the day after he plans to announce reciprocal tariffs, aimed at the countries he says are responsible for the US trade deficit.
在特朗普宣布对进口汽车征收 25% 的关税后，从渥太华到巴黎的政府都威胁要进行报复，该关税将在他计划宣布对等关税的第二天生效，这些关税针对的是他所说的对美国贸易逆差负责的国家。

Global stock markets fell as shares in some of the world’s biggest carmakers tumbled.
随着全球一些最大汽车制造商的股价暴跌，全球股市下跌。

Following the Federal Reserve’s decision last week to hold its benchmark interest rate steady, while indicating potential rate cuts later this year, investors are now awaiting the US Personal Consumption Expenditures data due on Friday to gauge the trajectory for further rate cuts.
继美联储上周决定保持基准利率稳定，同时表示可能在今年晚些时候降息后，投资者现在正在等待周五公布的美国个人消费支出数据，以衡量进一步降息的轨迹。

“If (the PCE data) comes out better-than-expected, it might signal more upside for gold… because the Fed would be in a better position to start cutting rates,” Haberkorn added.
“如果（PCE 数据）好于预期，这可能预示着黄金有更大的上行空间……因为美联储将处于更好的位置开始降息，“Haberkorn 补充道。

Goldman forecast 高盛预测

Coinciding with gold’s new record, analysts at Goldman Sachs once again bumped up their price forecast for the yellow metal, now anticipating $3,300 an ounce by the end of this year.
在黄金创下新纪录的同时，高盛（Goldman Sachs）的分析师再次上调了对黄金的价格预测，目前预计到今年年底，黄金价格将达到每盎司3300美元。

The new projection, says Goldman analysts Lina Thomas and Daan Struyven, reflects a pick-up in gold purchases by central banks, which have bought over 1,000 tonnes for three straight years and are on track to repeat the same feat in 2025.
高盛分析师 Lina Thomas 和 Daan Struyven 表示，新的预测反映了各国央行购买黄金的增加，这些央行已连续三年购买了超过 1,000 吨黄金，并有望在 2025 年重复同样的壮举。

Citing strong central bank buying, the Goldman team already raised its year-end price target once this year, lifting it from $2,890 to $3,100 per ounce in late February.

“Central banks — particularly in emerging markets — have increased gold purchases roughly fivefold since 2022, following the freezing of Russian reserves,” Thomas and Struyven wrote in a note. “We view this as a structural shift in reserve management behavior, and we do not expect a near-term reversal.”

They also noted that flows into gold-backed exchange-traded funds (ETFs) “surprised to the upside,” with renewed investor demand for hedges likely driving the expansion, while reiterating their view for two rate cuts from the US Federal Reserve this year.

“While ETF flows generally track Fed policy rates, history shows they can overshoot during extended periods of macro uncertainty — such as during the covid-19 pandemic,” the bank’s analysts said.

Should accelerating demand for hedging boosts ETF holdings toward the pandemic-level heights seen in 2020, prices may hit $3,680 an ounce by year’s end, they added.

(With files from Bloomberg and Reuters)