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Gold Surges Past $3,350 as Trump’s Tariff Threats and Ukraine-Russia Tensions Spark Safe-Haven Buying

Perth Mint Gold Scandal: Mint Regains Global Confidence
Perth Mint Gold Scandal: Mint Regains Global Confidence

Gold climbed to a one-week peak on Monday, with spot gold rising 2% to $3,353.29 per ounce, as multiple global uncertainties pushed investors toward safe-haven assets.

President Trump’s announcement to increase tariffs on imported steel and aluminum from 25% to 50% sparked renewed trade war fears, while China pushed back against U.S. accusations regarding critical minerals agreements.

Treasury Secretary Scott Bessent indicated Trump would soon discuss these issues with Chinese President Xi Jinping. Additionally, escalating military actions between Ukraine and Russia ahead of peace talks in Istanbul heightened geopolitical tensions.

Eight more from the desk

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