Gold soared to unprecedented levels in Asian trading on Monday, approaching the $4,100 per ounce threshold as renewed friction between the U.S. and China fueled a flight to safe-haven assets.
Spot gold climbed 1.3% to $4,070.29 an ounce by 02:53 ET (05:53 GMT) after hitting a record intraday peak of $4,078.05 earlier in the session. U.S. Gold Futures advanced 1.6% to $4,089.45/oz. Silver followed suit, setting a new all-time high as investors piled into precious metals.
Trump Escalates Trade Dispute with China
The surge came after U.S. President Donald Trump intensified trade tensions on Friday, threatening to impose tariffs of up to 100% on Chinese imports and further restrict exports of sensitive technology.
The remarks unsettled financial markets, prompting a rush toward safe-haven assets like gold. Over the weekend, however, Trump adopted a more reassuring stance, telling markets to “not worry about China” and indicating that Washington was not preparing an immediate escalation. While the softer tone eased some market anxiety, traders remained cautious given the White House’s unpredictable policy shifts.
Beijing responded by stating it was “not afraid” of a trade war and vowed to take all necessary steps to defend its interests. The firm rhetoric amplified concerns over a renewed flare-up in U.S.-China economic tensions.
Gold prices have surged more than 50% since the start of the year, supported by strong safe-haven demand, expectations of lower U.S. interest rates, and steady central bank buying. The metal has also benefited from increased geopolitical uncertainty and pressure on global equity markets.
Silver Extends Rally; Industrial Metals Strengthen
Silver Futures continued their upward momentum, hitting a record $51.7 per ounce, up about 2.4% on the day. Analysts attributed the gains to a mix of strong investment inflows, tightening supply, and a short squeeze in London markets.
Platinum Futures rose nearly 3% to $1,669.60/oz, while benchmark Copper Futures on the London Metal Exchange climbed 1.5% to $10,572.75 a ton. U.S. Copper Futures also advanced 1.7% to $4.98 a pound.
Industrial metals were buoyed by Chinese trade figures showing that both exports and imports in September surged well above expectations, despite U.S. tariff threats — a signal of trade resilience from the world’s second-largest economy.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.
Leave a Reply