The price of gold hit $3,150.52 per ounce on Tuesday morning, an all-time high, as the world braces for the unleashing of tariffs by U.S. President Donald Trump on April 2. Gold is seen as a safe haven asset and a reliable store of value during economic turbulence. Investors fear Trump's trade war may trigger a global recession.

It's important to carefully evaluate the moves you're making now that the price of gold is sitting at a new high.

Uncertainty surrounding U.S. President Trump's tariffs added extra heat to the momentum of gold's rise, as well as strong demand from central banks.