India, March 16 -- Gold crossed the remarkable milestone of $3,000 per ounce for the first time ever on Friday, solidifying its position as a safe haven asset in the middle of market uncertainties.

Bullion gold has hit 13 new all-time highs so far this year and is on its way for a second consecutive week of gains.

Spot gold has risen 0.4% to $3,000.87 per ounch while US gold futures were up 0.7% to $3,013.60.

"The precious metal still has an abundance of reasons to pursue higher prices, including geopolitical and economic concerns, along with the prospects of Fed rate cuts," Han Tan, Exinity Group's chief market analyst, told Reuters.

A major reason for the record rise ingold prices has been the tariff policies of US President Donald ...