Gold and silver prices soared to record levels on Monday, October 13, as renewed trade tensions between the United States and China, combined with expectations of a Federal Reserve interest rate cut, boosted safe-haven demand. Spot gold climbed 1.5% to $4,078 per ounce, while December gold futures rose 2.3% to $4,093. Silver also jumped 2.7% to $51.70 per ounce. President Donald Trump recently threatened 100% tariffs on Chinese goods and announced new export controls on key software, prompting global market concerns. Analysts note that geopolitical tensions and market tightness are driving investment demand for precious metals. Platinum rose 2.9% to $1,635.35, and palladium increased 3.6% to $1,452.50. Since January, gold has surged 53%, fueled by central bank purchases, ETF inflows, tariff-related economic uncertainty, and anticipated Fed rate cuts. Market watchers expect further rate reductions in October and December.
Amid renewed trade tensions between the United States and China, and expectations of an interest rate cut by the US Federal Reserve, gold prices reached a new all-time high on Monday, October 13. At the same time, silver prices also surged to historic levels.
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