Gold breaks records: price exceeds $3,100 amid trade tensions

On Monday, the price of spot gold exceeded $3,100, reaching a new record, amid fears of escalating trade conflicts due to the imposition of tariffs by the Trump administration. In the morning, the price of the yellow metal peaked at $3,157 per ounce (+1.13%), but then adjusted to $3,149.

The dollar index declined by 0.35%, falling below 104.00, which supported the growth of gold. Analysts believe that the tension in the markets caused by the expectation of new tariffs is stimulating demand for protective assets. However, a price rollback is possible if the duties turn out to be less severe.

Gold has risen in price by more than 18% since the beginning of the year, which forced banks to revise forecasts for 2025. 

Prices for other precious metals are also showing growth. The spot price of silver increased by 0.7%, reaching $34.35 per ounce. Platinum remained unchanged at $984.07, while palladium rose 0.5% to reach $976.72. All three metals have shown steady growth over the current month.