Gold keeps setting new price and production records in a volatile world with multiple wars and a fickle US president causing unprecedented economic ups and downs.

Uncertainty is literally golden. As geopolitical turmoil and economic uncertainty mount at a bewildering pace in the Trumpocene, gold is setting new records across the board on the supply, demand and price fronts.

Total supply rose 3% year on year in the second quarter (Q2) of 2025. Initial estimates suggest a record Q2 production of 909 tonnes, according to the latest quarterly Global Demand Trends report of the London-based World Gold Council (WGC).

This trend highlights the fact that gold producers are blasting and digging at a furious pace to catch the tsunami of profits flowing to their bottom line from record prices.

"The average quarterly price was a record $3,280.35 an ounce, up by 40% year on year and 15% quarter on quarter," the report says. The all-time record price of $3,500 an ounce was scaled in April and it has remained north of $3,000 for most of this year.

For the first six months of 2025, value from demand rocketed to a record of almost $250-billion.

A range of factors explain this...