Gold stepped into Monday’s Asian trading session with the poise of a red-carpet veteran—calm, confident, and setting a fresh record. The precious metal surged to $4,070.29 per ounce, marking a 1.3% increase and edging closer to the symbolic $4,100 threshold. US futures followed suit, climbing to $4,089.45.
Silver, typically the more subdued counterpart in the metals market, also made a rare splash, jumping by 2.4% to $51.70 per ounce.
The rally began late Friday after US President Donald Trump revived familiar themes of trade friction, pledging tariffs of up to 100% on Chinese imports and hinting at tighter export controls. That was enough to boost demand for safe-haven assets among investors.
By the weekend, Trump sought to ease concerns, urging markets not to overreact to the China situation. Still, market confidence in the political stability of Washington remained fragile.
Beijing responded with restraint but clarity, signaling that it had no intention of backing down. Amid these diplomatic exchanges, gold was the only asset that seemed pleased by growing tensions.
The yellow metal is now up more than 50% year-to-date. The formula is no mystery: investors are fleeing uncertainty and flocking to the asset that has been proven over millennia.
Expectations of interest rate cuts and ongoing central bank purchases are fueling the rally. With equities under pressure and geopolitical instability brewing, gold is doing what it does best—rising.
Gold’s ascent has also brought other industrial metals into the spotlight. Platinum jumped by nearly 3% to $1,669.60 per ounce. Meanwhile, copper prices climbed by 1.5% in London and 1.7% in the United States, reaching $10,572.75 per metric ton and $4.98 per pound.
The gains came on the back of surprisingly strong trade data out of China. Both exports and imports beat expectations, defying tariff threats and once again catching skeptics off guard with the resilience of the world’s second-largest economy.
