Gold Hits New Record High Near $4,100 as US-China Trade Tensions Rise
Gold prices surged to fresh record highs in Asian trading on Monday, approaching the $4,100 per ounce level as renewed U.S.-China trade tensions spurred strong safe-haven demand.
Spot gold gained 1.3% to $4,070.29 per ounce by 02:53 ET (05:53 GMT) after hitting an all-time high of $4,078.05 earlier in the session. Meanwhile, U.S. gold futures climbed 1.6% to $4,089.45 per ounce.
Silver also joined the rally, touching a new all-time high as momentum spread across the precious metals market.
Trump Escalates Trade Friction, Then Softens Tone
Gold’s rally followed President Donald Trump’s renewed tariff threats on Friday, where he proposed duties of up to 100% on Chinese imports and tighter export controls on key U.S. technologies. The announcement shook global markets, driving investors toward traditional safe-haven assets such as gold and silver.
Over the weekend, Trump softened his tone, telling markets to “not worry about China” and signaling that no immediate escalation was planned. The reassurance helped stabilize sentiment somewhat, though traders remain cautious amid policy uncertainty.
Beijing responded firmly, declaring it was “not afraid” of a trade war and promising countermeasures to protect national interests — fueling further fears of an economic standoff.
Gold Up Over 50% in 2025 Amid Global Risks
Gold has now gained more than 50% year-to-date, supported by safe-haven flows, expectations of lower U.S. interest rates, and strong central bank demand. The ongoing trade and geopolitical tensions have further bolstered the metal’s appeal as global equities face increased pressure.
Silver and Industrial Metals Extend Gains
Silver futures hit a new record high of $51.70 per ounce, up 2.4% for the day, driven by strong investment demand, tight supply conditions, and a short squeeze in London markets.
Platinum futures advanced 3% to $1,669.60 per ounce, while benchmark copper futures on the London Metal Exchange rose 1.5% to $10,572.75 per ton. U.S. copper futures climbed 1.7% to $4.98 per pound, supported by Chinese trade data showing a sharp rise in exports and imports in September, signaling trade resilience despite tariff pressures.
