Gold and Silver Prices Climb

In a significant market movement, gold prices soared to their highest point since late October 2024. This surge was triggered by U.S. President Donald Trump's urgent call for a global reduction in interest rates. The demand for gold, a traditional safe-haven asset, was further bolstered by the uncertainty surrounding Trump's controversial tariff plan and the potential for a sharp decline in interest rates, which exerted downward pressure on the US dollar.

By 6:35 am ET, gold had risen by 0.91% to $2,780.05 per ounce. Shortly after, silver also saw an increase, climbing 1.32% to $30.90 per ounce.