Gold and Silver Prices Reach New Records Amid Global Market Turmoil
On Monday, October 13th, international financial markets experienced a significant surge in gold and silver prices, setting new record highs amid ongoing economic uncertainties and geopolitical tensions.
Investors flocked to safe-haven assets following renewed threats from U.S.
President Donald Trump to impose additional tariffs on China, which fueled increased demand for precious metals, according to reports from Reuters and Bloomberg.
As of 10 a.m., spot gold prices on the London exchange climbed to $4,079.89 per ounce, surpassing last week’s peak of $4,078.05.
December futures in the U.S.
markets rose by 2.3%, reaching $4,093.50.
Silver, generally considered less liquid, hit its highest level in over a decade — soaring 3.1% to nearly $52 an ounce, exceeding its previous week’s high.
Prices for platinum and palladium also increased by over 3%, indicating growing market tension and rising demand across other precious metals.
The rally was driven by central bank purchases, increased ETF holdings, and Federal Reserve rate cuts.
Geopolitical issues, especially trade tensions between the U.S.
and China, alongside domestic political instability and government shutdown fears, continue to boost investor interest in the precious metals market, highlighting their role as reliable safe assets during turbulent times.