Gold surged to fresh all-time highs on Monday, with bullion jumping 2.5% to $3,410 per ounce by 11:20 a.m. ET, as mounting distrust in U.S. financial assets and inflation fears drive a flight to safety unlike anything seen since the global debt crises of the early 2010s.
The U.S. Dollar Index, which measures the dollar against a basket of six major currencies, fell to 98.30, its lowest level since March 2022, in pre-market trade on Monday.
Last week was a nasty one for the market, and while some holdings fared better than others, there was definitely some bloodshed in the portfolio. But I still like Agnico Eagle Mines Ltd. (AEM)
Gold prices exceeded $3,000/oz, with potential to reach $3,500 if investment demand rises. China's insurance sector and central banks may increase gold holdings, while ETF inflows signal growing retail interest. Trade policy uncertainty and a weaker U.S. dollar could further support prices.
In early trade, gold prices surged to an all-time high of $3,127.92 per ounce, though broader equity markets edged lower as Wall Street awaits the rollout of Trump's tariffs.
