Gold prices held steady on Friday, maintaining their record high achieved during the previous session’s surge. This surge was fueled by uncertainty surrounding potential US tariffs, which has prompted investors to seek the safe haven of gold.

Gold prices surge post Budget 2025 as income tax relief boosts disposable income. Commodity markets react to policy changes, with investors eyeing import duty revisions and inflation trends for future price movements.

The price of gold hit a new record on Thursday, lifted by uncertainty over the economic policies of US President Donald Trump and the dollar’s weakness following a disappointing US growth report. Around 1800 GMT (7am NZT),