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Gold rush hits Trump-era Washington, from prices to the Oval Office
By Andrew Ackerman
The Washington Post
via MSN News, Redmond, Washington
Thursday, August 14, 2025
Donald Trump promised Americans a golden age. In one way, he's already delivered: gold is glittering like never before.
Over the past year, the price of the precious metal has surged by roughly 35 percent, vastly outstripping gains in the overall stock market. Investors are increasingly turning to the metal — used as a safe financial asset for millennia — amid mounting economic uncertainty and heavy buying by central banks seeking to diversify their reserve holdings.
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The rally intensified last week, when gold futures in New York spiked after U.S. Customs and Border Protection unexpectedly said that certain widely traded gold bars, many from Switzerland, would be subject to Trump's new tariffs. The unexpected move pushed U.S. prices above the global benchmark set in London, easing only after Trump later announced on social media that gold would not be subject to tariffs.
In Trump's Washington, the gold rush is more than a market trend -- it's a decor choice. And business executives who know that come armed with gilded gifts, hoping to win the president over.
The Oval Office now gleams with gold-colored drapes, medallions, frames, figurines, cherubs, eagles and moldings. Corporate executives who have recently visited the president for one-on-one meetings have described the office as overwhelmingly golden. When Apple CEO Tim Cook stopped by last week, he presented the president with a commemorative plate anchored in a 24-karat gold base. A day earlier, a Cabinet secretary took to X to share a video of himself autographing a gold-colored tractor on the National Mall. Meanwhile, the administration has promoted a $5 million “gold card” aimed at wealthy foreigners.
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