Silver continued gaining ground on Monday, hitting a fresh record high of $110 per ounce. The recent surge in safe investments was partly motivated by geopolitical turmoil and worries about the state of the United States economy, as well as uncertainty surrounding the course of the Federal Reserve’s monetary policy and the central bank’s independence. Silver soared 7.39% at 4:36 am ET, going for $109.88 per ounce. The precious metal is up 53.7% since the start of the year. Gold gained 2.27% at 4:39 am ET and went for $5,094.20 per ounce. Platinum jumped 4.28% to go for $2,889.67 per ounce, while palladium added 2.61% and went for $2,067.78 per ounce.
Gold hits new all-time high of $5,000
Gold climbed above $5,000 per ounce for the first time, underscoring investors’ flight to safety amid diminishing confidence in other assets due to geopolitical tensions and persistent trade uncertainties. The rally towards the stunning milestone was driven in no small part by United States President Donald Trump’s often seismic policy shifts, which have, at their most recent, put a strain on relations between Washington and other NATO members over Greenland. Gold went up by 0.64% to go for $5,015.65 per ounce at 6:07 pm ET. Silver surged 2.51% to $104.68 per ounce at 6:11 pm ET. Platinum dropped by 0.66% a minute later to $2,753.51 per ounce, while palladium went down by 0.44% to go for $2,008 per ounce.