Gold prices soared on Monday, with gold futures rising 2.63% or $85.2 to $3,328.5 per ounce as of 5:53 PM IST, driven by investor caution ahead of the upcoming Federal Reserve decision and escalating global trade tensions.
Spot gold also saw a sharp rise of 2.51% earlier in the day, reaching $3,318.59 per ounce. Silver followed suit with a 1.25% gain to $32.42 per ounce, while palladium rose 0.70% to $946.24. Platinum, however, remained flat at $965.22 per ounce.
The latest surge in precious metals comes amid market anxiety over the deepening trade war between the United States and China. Beijing retaliated with its own tariff hike, pushing the effective rate to 145% after recent escalations from the Trump administration.
Adding to the momentum, Boston Federal Reserve President Susan Collins reaffirmed the Fed’s readiness to support market liquidity if needed, giving investors a reason to seek the safety of gold.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Investments in commodities and markets are subject to risks. Always conduct your own research or consult a financial advisor before making investment decisions.
