Gold Reaches Unprecedented Heights

In a remarkable surge, gold prices climbed to a historic peak of $3,120 on Monday, as investors flocked to the safety of precious metals amidst growing concerns over international trade tensions. The move comes ahead of anticipated new tariffs from US President Donald Trump, signaling a potentially volatile period ahead for global markets.

Trade Tensions Fuel Market Uncertainty

Trump's announcement of forthcoming reciprocal tariffs has sent ripples through the financial world, with many fearing an escalation in trade disputes. Adding to the unease, the President has also threatened financial sanctions on Russian oil imports, unless a ceasefire agreement in Ukraine is reached. His indifference to potential price hikes in the automotive sector due to tariffs has further fueled the rally in precious metals.

Precious Metals Rally Across the Board

At 5:24 am ET, gold was up by 1.30%, trading at $3,123.21. Silver, platinum, and palladium also saw significant gains, with increases of 0.86%, 0.78%, and 0.94% respectively. This widespread uptick underscores the growing appeal of precious metals as a hedge against geopolitical and economic uncertainties.