The price of gold has been bursting through records in the first month of Mr. Trump’s second term, recently trading at more than $2,900 per troy ounce. It is up about 12 percent already this year, on top of a 27 percent gain last year. Many strategists are upgrading their forecasts, predicting more gains ahead.

"Gold just took off like a rocket ship in the last few months," one local merchant said. "We're all along for the ride."

ETMarkets.com Gold is often seen as a safeguard against inflation and geopolitical uncertainty, but rising interest rates reduces the appeal of the non-yielding assets. Gold prices eased from record highs on Wednesday,

Goldman Sachs (GS) has raised its price forecast for gold citing strong central bank demand for the metal among a range of bullish drivers. The

Gold approaching $3,000 an ounce is priced so far ahead of inflation that the yellow metal is unlikely to produce a positive real (inflation-adjusted) return in coming years. That’s the implication of research from Campbell Harvey,