Gold prices soared to fresh all-time highs in Asian trading on Monday, nearing the $4,100-per-ounce mark as escalating trade frictions between the U.S. and China reignited demand for safe-haven assets.
Spot gold climbed 1.3% to $4,070.29 per ounce by 02:53 ET (05:53 GMT) after reaching an intraday record of $4,078.05 earlier in the session. U.S. Gold Futures advanced 1.6% to $4,089.45/oz. Silver also broke records, strengthening the broader rally in precious metals.
Trump Escalates US-China Trade Dispute
The rally followed remarks from U.S. President Donald Trump on Friday, when he threatened to impose tariffs of up to 100% on Chinese imports and tighten controls on critical technology exports.
Markets reacted swiftly, with investors shifting capital toward traditional safe havens like gold. Over the weekend, Trump appeared to dial back the rhetoric, urging investors to “not worry about China” and signaling that an immediate escalation was not planned. While this helped ease some of the market tension, traders remained on guard given the unpredictable nature of U.S. trade policy.
Beijing, for its part, responded by stating it was “not afraid” of a trade war and would act to protect its national interests. This hardened stance intensified concerns of another escalation in economic hostilities between the two countries.
Gold has now gained more than 50% year-to-date, supported by persistent safe-haven flows, expectations of lower U.S. interest rates, and sustained central bank buying. Mounting geopolitical risks and weakness in global equity markets have added further momentum.
Silver Extends Rally; Industrial Metals Firm
Silver Futures rose sharply, reaching a new all-time high of $51.7 per ounce, up 2.4% on the day. The surge was driven by a mix of robust investment demand, tightening supply conditions, and a short squeeze in London trading.
Platinum Futures advanced nearly 3% to $1,669.60/oz, while benchmark Copper Futures on the London Metal Exchange gained 1.5% to $10,572.75 per ton. U.S. Copper Futures climbed 1.7% to $4.98 per pound.
The strength in industrial metals was further supported by Chinese trade data showing stronger-than-expected growth in both exports and imports in September. This resilience came despite U.S. tariff concerns, signaling ongoing strength in global trade activity.
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.