Gold extended its rally on Thursday, with spot prices briefly surpassing $3,500 an ounce for the first time and December futures touching $3,534.10 on the New York Comex, according to price feeds monitored by market-data services. The move follows an earlier gain that took spot metal to $3,400.83, up almost 1% on the day. At today’s intraday peak, the precious metal has advanced roughly 43% over the past 12 months, more than twice the return of the S&P 500 over the same period. Analysts said the jump reflects persistent demand for perceived safe-haven assets amid uncertainty over the global growth outlook and U.S. trade policy. Some traders linked the latest spike to social-media reports that former U.S. president Donald Trump intends to impose a tariff on gold, though the measure has not been confirmed by the White House or U.S. trade officials. Market participants are watching for official clarification, which could further influence bullion pricing.