Gold rallies as investors re-evaluate U.S. Treasurys and dollar

One kilogram gold bars at the ABC Refinery smelter, operated by Pallion, in Sydney, Australia, on Thursday, April 17, 2025.

Brendon Thorne | Bloomberg | Getty Images

Gold prices have been on a tear with the recent trade turmoil driving investors to the safe haven, while competing assets such as the U.S. Treasurys and the dollar have tumbled. 

This is tied to the seismic shift in U.S. trade policy under President Donald Trump, and bullion has "stepped into the void" as the market's safe haven asset of choice, Commonwealth Bank of Australia . . .