US-China Tensions Cast Shadows Over Markets and Drive Gold and Silver to Historical Peaks

Gold and silver recorded a new record high in trading today, Monday, as trade tensions between the United States and China escalated, and concerns about a slowdown in the global economy increased, while investors awaited the steps of the US Federal Reserve regarding interest rates.

Gold rose in spot transactions by 1.5% to reach $4,075 per ounce, after touching $4,079.81 earlier in the session, marking the highest level ever recorded for the yellow metal.
US December futures also climbed to $4,099.4 before slightly retreating to $4,095.9, but remained up about 2.4% during today's trading.

Silver Follows the Rise

Silver followed the same trend, jumping by 2.2% to $51.40 per ounce, after reaching $51.74 earlier, also recording its highest level in history, supported by the same factors that boosted gold's gains.

Washington's Decisions Spark Beijing's Response

These increases came after US President Donald Trump announced last Friday the imposition of a 100% tariff on Chinese imports, along with new restrictions on the export of sensitive software starting in early November.
These measures were in response to restrictions imposed by China on the export of rare earth elements and precision industrial equipment, which are essential materials for advanced technology industries.
In turn, Beijing defended its decisions, describing them as "justified and necessary," without announcing any new retaliatory measures at this time.