Gold jumped to a new record high on Monday, approaching $4,100 an ounce, driven by a wave of safe-haven demand amid escalating trade tensions between the United States and China and growing expectations of an interest rate cut by the US Federal Reserve.
This surge came after US President Donald Trump threatened on Friday to impose 100% tariffs on Chinese imports into the United States and announced new restrictions on the export of sensitive software by November 1, in response to China's actions related to rare earth elements and minerals. Beijing defended its decision on Sunday as justified, but refrained from imposing additional tariffs on US goods
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