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Gold is hitting new records this month with Wall Street analysts predicting an even higher mark for it could be reached later this year.
On March 13, gold futures (GC=F) climbed above $3,000 per ounce, a new all-time high. Gold prices have climbed 13.6% in 2025 and 38% over the past 12 months.
Gold futures have gained more than 11% year to date, hitting multiple record highs since January. One recent prediction on Wall Street sees prices for gold reaching $3,500 possibly in the third quarter.
Ben Levisohn, editor at Barron's Markets, said gold has exceeded expectations so far this year.
"I love the fact that gold has done so well and I think finally people are coming around to the fact that it's just going up," said Levisohn.
The gold jump can be attributed in part to President Trump's tariffs, which have led to economic uncertainties and some believing in another run coming of inflation. Thus, more people have turned to support gold.
"For a long time it's been 'oh, it's just gold, it doesn't have any real value, it doesn't pay dividend,' but all I know is this thing is up 13% this year, it's where you want to go," Levisohn said.
Levisohn argues that another reason for having gold is it's lack of a correlation with the stock market.
"It's not really correlated to the things that make stocks fall," he added. "You look at the stock market, zero correlation with gold, you look at the VIX, so when volatility rises, it doesn't do anything to gold so that's a great asset to have right now."
As a trade war ramps up between the United States and others, the Federal Reserve announced Wednesday that rates would be unchanged. Some were questioning if the Fed would be more inclined to cut rates this year.
Levisohn said other investments like Bitcoin are "looking a lot more speculative" at the moment.