Gold and silver prices climbed Monday as investors turned toward haven assets as President Donald Trump ramped up tariff threats on the European Union and Mexico.
Gold futures rose 0.5% to $3,379 per ounce early in the day–and are now up more than 2% since the beginning of July. Silver futures were up 1.5% to $39.56 per ounce and have jumped more than 9% in the past two weeks. It’s the first time the metal has been above $39 since 2011.
Traders are trying to “seek shelter from a heady concoction of soaring debt and growing tariff concerns,” Rostro market analyst Joshua Mahony said.