Gold prices surpassed the key $2,800 mark for the first time on Friday, fuelled by a rush to safety following U.S. President Donald Trump's tariff threats, which heightened concerns about global economic growth and inflationary pressures.

Gold prices rose to hit a lifetime high on Thursday while the focus was also on a crucial inflation report for clues on the Fed's policy path.

Investors should put faith in stalwart commodities such as gold and oil if they want to shield their portfolios from tail-risk scenarios such as tariff escalation. That’s according to Goldman Sachs strategists led by Samantha Dart,