Gold Jumps 2% As Ukraine Strikes Russia, U.S.-China Trade Tensions Rise

Benzinga

Gold prices surged over 2% to $3,353.69 an ounce Monday as renewed geopolitical tensions and trade uncertainty revived demand for haven assets, according to Bloomberg. Drone strikes by Ukraine on Russian airfields and Moscow’s extended missile barrage on Kyiv dampened hopes for peace talks. U.S.-China trade tensions escalated, with each side accusing the other of violating a recent deal. President Donald Trump further unsettled markets by pledging to double tariffs on imported steel and aluminum, prompting retaliation threats from Canada. A weaker dollar also boosted bullion’s appeal. Silver and palladium gained, while platinum slipped. Gold remains up over 25% this year, with Goldman Sachs affirming it as a long-term hedge against inflation alongside oil.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Gold prices surged over 2% to $3,353.69 an ounce Monday, as renewed geopolitical tensions and

00:09trade uncertainty revived demand for haven assets, according to Bloomberg.

00:13Drone strikes by Ukraine on Russian airfields and Moscow's extended missile barrage on Kiev

00:17dampened hopes for peace talks. U.S.-China trade tensions escalated, with each side accusing the

00:22other of violating a recent deal. President Donald Trump further unsettled markets by

00:26pledging to double tariffs on imported steel and aluminum, prompting retaliation threats

00:30from Canada. Weaker dollar also boosted bullion's appeal. Silver and palladium gained while platinum

00:35slipped. Gold remains up 25% this year, with Goldman Sachs affirming it as a long-term hedge

00:40against inflation alongside oil.

00:43For all things money, visit Benzinga.com slash GSTV.

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