For the first time, gold surpasses $3,000 as Trump accelerates the historic rally.

Amid concerns about the effects of US tariffs, investors flocked to gold, which is regarded as a safe haven, and the metal surged beyond $3,000 for the first price ever on Friday.

A day after breaking its late February high, gold increased 2.94 percent to $3,000.85 an ounce in morning trades. At 1015 GMT, spot gold was up 0.4% at $3,000.87 an ounce. At $3,013.60, U.S. gold futures were up 0.7%.

Bullion is poised for a second consecutive week of gains, having already climbed to 13 all-time highs this year.

"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," said Han Tan, CEO of Exinity Group.