The price of gold has continued to climb in the time since, surging past the $3,300 per ounce mark this week. Gold's prices got where they are today due to several different economic factors, including inflation climbing over the last few years,

Gold prices pulled back from a record high on Thursday as investors booked profits following a rally driven by concerns around U.S. President Donald Trump's latest wave of tariff policies. Spot gold was down 0.

Tariffs and precious metals: why gold prices are so high