Precious Metals See Significant Gains Ahead of Tariff Implementation

In a notable shift, the prices of precious metals experienced a substantial increase on Monday. This surge comes just before the implementation of United States President Donald Trump's tariffs against Canada, China, and Mexico, sparking widespread speculation about their potential impact on the global economy.

At 9:39 am ET, gold witnessed a 1.07% rise, reaching $2,881.89 per ounce. Not far behind, silver prices climbed by 2.33% to $31.82 per ounce. Platinum and palladium also saw significant gains, with platinum increasing by 1.67% to $965.49 and palladium soaring by 2.38% to $929.74 per ounce, reflecting investors' inclination towards safe-haven assets amidst economic uncertainties.