Gold prices climbed ahead of US CPI data, with spot gold up 0.5% at $3,361.23/oz amid rising global trade tensions. Trump's tariff threats on the EU and Mexico boosted safe-haven demand. Analysts say gold may need a weaker dollar or yields to hit $3,400. The SPDR Gold ETF (GLD) is up over 26% in 2025, outperforming the S&P 500's 6% rise.