Gold prices in Asian trading on Monday surpassed $4,700 per ounce, reaching an all-time high, following the US President’s imposition of new trade tariffs on eight European countries in connection with his attempt to purchase Greenland.
This decision provoked strong condemnation from European politicians. As a result, investors sought refuge in precious metals.
On Monday, copper prices rose among industrial metals. This was due to China, a major importer, announcing that its Gross Domestic Product (GDP) had reached Beijing’s 2025 growth target of 5%.
Benchmark copper futures on the London Metal Exchange rose by 0.6% to $12,881.0 per tonne. Investors expect that increasing global spending on data centers will boost demand for this industrial metal.
