Gold rush - price of a single bar soars above £1million amid Trump turmoil

The price of gold has smashed through the £1million barrier for the first time in history, as rattled investors scramble for safety amid growing fears over Donald Trump's trade war with China.

The soaring demand for the precious metal - long considered a safe haven in times of crisis - has pushed the price to an all-time high of £2,540 per troy ounce before retreating slightly to £2,504.

With a standard 400-ounce bar now worth as much as £1.02million, the gold rush is back on in earnest.

Market turmoil triggered by President Trump's escalating tariff threats and warnings from the US central bank about slower growth, rising prices and looming job losses has sparked a flight from stocks and currencies - and into gold.

The chaos began after the president announced sweeping new import taxes on trading partners, spooking investors and sending global markets into a tailspin. Although he later agreed to a 90-day pause, the damage was done - and uncertainty remains sky high.

"Everyone is trying to work out what Trump is going to do next," said Rob Mansfield of Rootes Wealth Management. "Markets hate uncertainty and so are either euphoric or despondent based on the latest Truth Social post."

Paul Williams, boss of UK bullion dealer Solomon Global, said: "We're seeing continued growth in demand as investors turn to gold as a safeguard in unpredictable markets.

"Our clients value gold for its stability and resilience in a volatile world." Sales at the firm jumped 93% in March compared to the same time last year.

Financial experts say even central banks - the very institutions that underpin the global financial system - have been piling into gold.

Anita Wright of Bolton James told Newspage: "If central banks are hedging against the system they operate, then the penny should drop for everyone else. They're betting against the very monetary structure they helped create. That's a huge red flag."

Investment giants including Goldman Sachs and UBS have revised their forecasts upwards, and gold has defied gravity by soaring despite conditions that usually hold it back - high Treasury yields, strong US dollar, and positive real interest rates.

Tony Redondo of Cosmos Currency Exchange warned: "This rally still has legs. Investors are spooked, and gold's their bunker."

Riz Malik of R3 Wealth said: "With Trump unable to calm markets or even prove he's in control, gold will continue to surge. The next stop is $3,500 - and in the current climate, that looks more likely by the day."

In the end, gold - ancient, inert, and shining with promise - has once again become the metal of choice when the modern world wobbles. And right now, it's glowing brighter than ever.