Gold and silver prices hit unprecedented record highs on Monday, as investors rushed to safe-haven assets following escalating geopolitical and trade concerns after US President Donald Trump threatened to impose additional tariffs on several European countries.
These moves came as anxiety returned to global markets, amid fears of a new trade confrontation between the United States and Europe, which boosted demand for precious metals as a hedge in times of uncertainty.
Gold jumped to historic levels, supported by weak risk appetite, while silver recorded one of its strongest daily upward surges, benefiting from both investment and industrial demand, while other precious metals followed suit amid rising political tensions.
Analysts believe that continued trade escalation could keep gold and silver prices at high levels in the coming period, especially if the conflict expands and its impact extends to global economic growth and currency markets.
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