Gold charges higher ahead of Trump’s 100-day milestone – Is a breakout imminent? [Video]

What a difference a 100-days makes. Donald Trump promised a "Boom Like No Other,” when he sworn into office as the 47th President of the United States in January.

But as April 30 approaches, marking the 100th day of Donald Trump's second term as President – that optimism has now evaporated as the reality of a more fractured, uncertain and disrupted world emerges the “New Normal”.

There is no denying that President Trump’s first 100 days in office have been action-packed and explosive – just not in the way the world was expecting!

Despite last week’s relief rally, the S&P 500 is down approximately 8% since Trump’s inauguration, poised for its worst performance during a President's first 100 days since Gerald Ford's tenure in 1974 following Richard Nixon’s resignation.

This decline follows two years of over 20% gains, defying expectations of a pro-growth agenda. Instead, markets have been rocked by volatility from Trump's sweeping tariffs – imposed, suspended and adjusted across numerous countries – coupled with an escalated trade war with China. 

President Donald Trump's disruptive trade policies, combined with the administrations aggressive push to deport undocumented workers and mass firings of federal employees have further rattled the markets – driving the S&P 500 into its seventh-fastest correction since 1929. 

And this could just the beginning! 

Wall Street is bracing for more volatility with the narrative rapidly shifting from “America First” to “Sell America”. According to data tracked by GSC Commodity Intelligence – institutional traders have just increased their net-short position on S&P 500 to the highest since December. 

Meanwhile, there are no prizes for guessing that Gold has positioned itself as the clear winner of Donald Trump's Presidency – firmly cementing its status as the world’s Number One “Trump Trade of 2025”. 

As of April 28, 2025, Gold has tallied up 28 new all-time record highs this year.

But here's what's even more impressive. Having previously scored 39 new all-time highs throughout 2024 – matching the peak of the Global Financial Crisis in 2011 – the price of Gold in U.S Dollars has continued to build on last year's momentum – taking its count of record highs to a staggering total of 67 new all-time highs, within a space of 16 months to the present day.

Put another way, that's the equivalent of Gold hitting four new all-time record highs – every single month consecutively for the last 16 months in a row.

Last week, Gold prices surged to a new record high of $3,500 an ounce for the first time in history. This represents a record-breaking year-to-date gain of 33% since the beginning of 2025.

Gold is not just making new highs in 2025, but it’s really breaking out. That's a tell-tale sign that this rally is just getting started.

The big question now is: How high will Gold prices go this year?

Only time will tell, however one thing we do know for certain is that the stars appear to be aligning for Gold and it won't take much for prices to hit $4,000 an ounce, if not exceed that mark – a lot sooner than anyone expects!

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions: