Gold surged to a new all-time high of $3,149 on Tuesday as traders brace for Trump’s reciprocal tariff announcement on Wednesday. The metal is up over 1.5% this week, fueled by safe-haven demand and macro uncertainty. Markets are also watching key US data, including Friday’s NFP report. Richmond Fed President Barkin called the outlook “foggy,” keeping recession fears alive. Analysts from Morgan Stanley and Goldman Sachs see gold hitting $3,300–$3,400 this year. Technicals point to $3,200 as the next target, though traders are wary of a “buy the rumour, sell the fact” scenario post-announcement.