The Globe and Mail reports in its Tuesday edition that President Donald Trump's focus on the Federal Reserve's independence is boosting gold prices, with futures rising over 3 per cent to a record $3,432 an ounce. The Globe's David Berman writes that gold is up more than 27 per cent this year, serving as a buffer against volatile stocks and rising bond yields. In the past two weeks, the price has jumped nearly $460 an ounce, with some credit given to Mr. Trump. His erratic tariffs have eroded consumer confidence and driven investors away from U.S. assets, raising concerns about global economic activity. As a result, gold has become a popular haven for investors during this uncertainty. Mr. Trump's economic policies are weakening the U.S. dollar, nearing a three-year low against other currencies. This decline supports gold prices, which are priced in dollars. Citigroup analyst Max Layton estimated that investment demand for gold will rise to more than 110 per cent of mine supply during the current quarter of this year, up from his previous estimate of 95 per cent, creating a supply-and-demand imbalance. He says, "This would be its highest level since the global financial crisis and second highest level in over 25 years."