The Dance Gavin Dance single has been making waves on TikTok, unearthing the band’s chequered past.

‘You need to go here.’

Seeing it is a once-in-a-lifetime experience.

Gold has hit an all-time high surpassing levels seen during the Covid-19 pandemic and the beginning of Russia’s full-scale invasion of Ukraine.

The trigger? Not a confluence of factors, as it is generally, but one person – Donald Trump – and his full-blown trade war that has ended ‘the world as we know it’.

One product of this 21st century gold rush is a TikTok, that has racked up millions of views, of a man casually unloading a gold bar he purchased inCostco to sell.

‘Last year, I bought this one ounce (28 grams) gold bar for $2,359 (£1,805) from Costco,’ video creator Humphrey Yang explains. ‘Today I am going to sell it…’

He eventually manages to sell it for $2,955 (£2,258), profiting a whooping $596 (£450).

It is an example of the market right now as the precious metal surpassed £2,442 per ounce on Friday morning – its highest ever price.

This spike has also prompted discussions on Reddit’s r/investing forum, where people are debating whether gold’s rally is actually sustainable.

‘Is this the start of a larger trend?’ ‘What other alternative investments are there?’ ‘What is going to happen in the next few months?’ These are some of the questions users are anxiously asking.

Shift towards gold ‘well underway’

Richard Hunter, head of markets at Interactive Investor, told Metro the shift toward gold is already well underway.

‘The surge in popularity is already happening. The gold price is up by about 21%. That is just this year, and it is constantly testing new record highs,’ he said.

What is unusual this time is the influence of one person, the US president.

Hunter said: ‘There are so many factors at play, but at a high level, market crises are usually caused by a confluence of issues. This time, rather oddly, it is largely down to one person.

‘The “tariff trauma” we are seeing is escalating daily and it is triggering a backlash against the States.’

That uncertainty has reignited interest in traditional ‘safe havens’ like gold.

‘What investors have been doing is searching for haven alternatives where they hope they can ride out some of this storm,’ Hunter explained.

‘What we have seen in the currency markets is particular strength in Swiss franc and Japanese yen. And arguably, the ultimate haven asset is gold.

‘There has been, as we discussed, a real meaningful amount of investment flowing into gold.’

‘Almost guaranteed’ volatility in next 90 days

As for what is next, Hunter stressed he can ‘almost guarantee’ volatility for the next three months as Trump announced a 90-day pause on tariffs with the exception of China.

While the rest of the world has the period to negotiate another deal, China – the second largest economy – will have its tariffs increased to 125% from 104%.

This came after the country announced additionaltariffs against the US earlier Wednesday.

Hunter commented on this development: ‘When you have got the world’s two largest economies at loggerheads, it is going to show cracks in the system. And that is exactly what is happening.’

British shoppers flock to buy gold

It is not just investors pivoting toward ‘safe haven’ gold, British shoppers are as well.

Dan Rennie, director at jeweller Rennie & Co in London, told Metro that the demand for gold jewellery has spiked despite the price surge.

‘Ironically, with the price of gold going up, we are actually selling more of it, especially when it comes to wedding rings.’

‘Over the last decade or two, platinum dominated. But in the last year, we are definitely seeing a shift back to 18 karat yellow gold.

‘Whether it is a fashion trend or the perception of exclusivity, people are drawn to it.’

For jewellers like Rennie & Co, the cost of gold is becoming much harder to ignore.

Over the past year, Rennie said he has had to raise prices three or four times, not because of labour or other costs, but purely due to gold itself.

‘We last adjusted maybe a month or two ago, and even now we are starting to fall behind again. So I am sure at some point we will need to reassess.’

Gold has a long track record of surging during times of crisis, with people rushing to buy as trust in institutions wobbled.

Prices soared in the aftermath of 9/11 and during the 2008 financial crash, and hit previous record highs again during the pandemic.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

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