Gold prices have crossed another milestone in historical growth, driven by concerns over international relations and the state of American institutions.
Futures for the precious metal rose by 2% and exceeded $5000 per troy ounce. New trade tensions and the weakening of the dollar may have pushed precious metal prices to new heights at the beginning of the week. President Trump stated on Saturday that he would impose 100% tariffs on Canada if Prime Minister Mark Carney strikes a trade deal with China.
Silver futures rose approximately 8% on Monday, raising the price of the metal above the $100 mark per troy ounce.
Meanwhile, the US dollar weakened against a basket of currencies. Its decline caused the value of the yen to rise after Washington and Tokyo signaled their readiness for intervention to support the Japanese currency. The yen reacted with a sharp increase on Friday, which continued this morning.
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