Gold prices rose for a fourth straight session on Monday, extending last week’s gains, as U.S. President Donald Trump’s fresh global tariffs and a weak dollar lifted bullion’s safe-haven demand.
Spot gold was last up 0.8% at $5,148.66 an ounce by 01:52 ET (06:52 GMT). U.S. Gold Futures advanced 1.8% to $5,170.19.
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The yellow metal climbed more than 1% last week as geopolitical tensions between the U.S. and Iran stoked a risk-averse mood.
Trump announces 15% global tariffs after court ruling President Trump said late last week that he would impose a 10% tariff on global imports for 150 days under Section 122 of U.S. trade law, after the U.S. Supreme Court struck down an earlier, broader tariff regime.
The administration then raised the levy to 15%, the maximum allowed under the statute, intensifying concerns about retaliatory measures and potential disruptions to global supply chains.
The tariff announcement weighed on risk sentiment, prompting investors to shift toward traditional safe havens such as bullion and U.S. Treasuries. The uncertainty over the duration and scope of the tariffs, as well as possible legal and congressional challenges, added to market volatility.
Investors also weighed U.S. economic data released last week. U.S. gross domestic product expanded at an annualized rate of 1.4% in the fourth quarter, marking a sharp slowdown from the previous quarter.
At the same time, the Personal Consumption Expenditures price index, the inflation gauge preferred by the Federal Reserve, showed prices rising 2.9% year-on-year in December, with the core measure around 3.0%, remaining above the central bank’s 2% target.
The combination of slowing growth and still-elevated inflation reinforced gold’s appeal as both a hedge against economic uncertainty and a store of value.
Silver extends gains, other metals subdued Other precious and industrial metals were mixed on Monday.
Silver prices rose 2.3% to $86.56 per ounce, while platinum gained 0.3% to $2,164.60/oz.
Benchmark Copper Futures on the London Metal Exchange edged up 0.3% to $12,956.33 a ton, while U.S.Copper Futures fell 0.4% to $5.88 a pound.
