Trump's frequent changes in tariffs ignite risk aversion sentiment, causing gold to return strongly above $5200.

Driven by the uncertainty of the US tariff policy, the precious metals market started the week strong. Gold futures prices climbed above $5200 per ounce, silver broke through $85 per ounce, continuing the upward momentum from before. Last Friday, the US Supreme Court rejected President Trump's tariff policy based on emergency powers. In response, Trump immediately announced a 10% global tariff to be imposed within 150 days, raising the rate to 15% last Saturday. This decision also cast a shadow over agreements reached between the US and its major trading partners. The EU postponed voting on a trade agreement with the US for the second time, waiting for the situation to become clearer; Indian officials also postponed their trip to the US. "Trump's rapid policy shift reignited market concerns about retaliatory measures, supply chain disruptions, and weak global demand, traditionally favoring safe-haven assets like gold," Trade Nation senior market analyst David Morrison said in a report. "With the uncertainty caused by Trump's tariff policies spreading, we expect gold prices to reach new record highs," wrote Peter Cardillo of Spartan Capital Securities. At the same time, the uncertainty of US-Iran negotiations continued to keep the market on edge, supporting demand for safe-haven assets like precious metals. Trading data showed that gold futures for delivery in February on the New York Commodity Exchange closed up 2.9% on Monday at $5204.70 per ounce, while silver futures for February delivery rose 5.1% to $86.523 per ounce. Both settlement prices reached their highest levels since January 29. Related ETFs include the Gold ETF-SPDR (GLD.US), Gold Mining ETF-VanEck (GDX.US), and Junior Gold Mining ETF-VanEck (GDXJ.US), among others.