Gold prices rise to $3,025.1 per ounce

Gold prices rose on Monday amid increased demand for the yellow metal as a safe haven due to concerns about US President Donald Trump’s imminent tariffs and expectations of an interest rate cut by the Federal Reserve this year.

Spot gold rose 1% to $3,025.12 per ounce.

U.S. gold futures rose 0.3% to $3,030.70 per ounce.

Among other precious metals, spot silver rose 0.1% to $33.06 per ounce, platinum rose 1.1% to $981.25, and palladium rose 0.5% to $962.54.