WASHINGTON (dpa-AFX) - Safe haven demand for the yellow metal surged amidst a confluence of risks related to the trade tariff environment as well as the geopolitical situation. Gold and Silver Futures jumped heavily on Monday amidst a renewed flight to safety.
With the Trump regime announcing temporary tariffs of 15 percent after the Supreme court verdict that struck down the earlier reciprocal tariffs, the trade scenario has been hit with a fresh bout of uncertainty. The geopolitical situation encompassing the tensions between the U.S. and Iran as well as Ukraine and Russia revealed no signs of respite, triggering a massive demand for safe assets.
The dollar index, in the meanwhile traded deep in the red, strengthening the demand for the yellow metal. The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of currencies is currently trading 0.19 percent lower at 97.61 after ranging between 97.37 and 97.85.
Gold Futures for April settlement are currently trading at $5,185.40, adding 2.1 percent from the previous close of $5,080.90. While the day's trading ranged between $5,130.16 and $5,198.41, the 52-week trading ranged between $2,866.30 and $5,626.80. Gold Futures had touched an all-time high of $5,626.80 on January 29.
The day's price movements have resulted in a weekly gain of 3.5 percent, a monthly addition of 3.3 percent and a year-to-date price gain of 18.2 percent. The yellow metal has witnessed a price jump of more than 185 percent over the 3-year horizon.
Spot Gold is currently trading 1.3 percent higher on an overnight basis at $5,168.88 per troy ounce. While the day's trading ranged between $5,014.34 and $5,176.53, the 52-week trading ranged between $2,832.63 and $5,595.46. Spot Gold had touched an all-time high of $5,595.46 on January 29.
At current prices, Gold Futures and Spot Gold have both gained around 75 percent over the past year.
Prices of other precious metals continued to whipsaw. Silver futures for March settlement jumped more than 5 percent whereas Platinum Futures for April settlement recorded an overnight dip of 0.3 percent.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
