Gold ETFs Add 23 Tons in One Day as Trade War Anxieties Mount

Gold prices continued to climb after gold-backed ETFs added 23 tons in a single day on Monday—the largest one-day increase in over three years, according to Bloomberg. This marks a significant reversal from the consistent outflows seen during the past three years, when high interest rates made cash more appealing than gold to Western investors.

Gold has surged 15% this year, primarily due to growing trade tensions increasing market uncertainty and boosting demand for safe-haven assets. President Trump’s recent announcements about automobile tariffs, a 25% levy on Venezuelan oil buyers, and potential reciprocal duties have further unsettled markets. By 10:21 a.m. London time, spot gold had risen 0.4% to $3,023.59, ending a three-day decline, while silver, platinum, and palladium also gained ground.