Gold surged to over $3,000 an ounce Thursday after Trump announced 25 import tariffs on autos and parts, according to Barron's. The S&P 500 remained flat, while investors sought safety in gold amid fears the tariffs could weaken the U.S. economy and provoke retaliation from trading partners. Gold has outperformed the S&P 500 in 2025, with investor demand for gold ETFs rising sharply compared to the previous year. Analysts warn that, despite strong fundamentals, gold’s rally makes it vulnerable to profit-taking.