Up 44% over the last year, gold has been by far the best-performer across a basket of 12 leading global asset classes over the period, according to the BlackRock Investment Institute, most notably trouncing the 22% return for the S&P 500 over the last year, including reinvested dividends.

Gold prices rose over 1% on Tuesday as concerns over economic growth, due to uncertainty surrounding U.S. President Donald Trump's tariff plans, prompted safe-haven flows into bullion. Spot gold gained 1.

Gold prices are predicted to climb to $3,100 per ounce by year's end as trade uncertainties and central bank demand soars.