Gold Hits Record $4,103 as Trump’s China Comments Calm Markets
Gold prices surged to unprecedented levels while global stock markets stabilized after former President Donald Trump struck a conciliatory tone toward China, easing fears of renewed trade tensions.
Key Market Movements
- Gold reached record $4,103 per ounce, up 57% year-to-date
- FTSE 100 gained 0.2% after Friday’s 0.9% decline
- S&P 500 rose 1.6%, Nasdaq jumped 2% following Friday losses
The precious metal’s rally continued as investors sought safe-haven assets amid ongoing economic uncertainty. Meanwhile, equity markets recovered from Friday’s declines triggered by Trump’s initial tariff threats.
Trump’s Reassuring Statement
On Sunday, Trump posted on Truth Social: ‘Don’t worry about China, it will all be fine. Highly respected President Xi just had a bad moment. He doesn’t want depression for his country, and neither do I.’
This marked a significant shift from his Friday warning about a ‘massive increase’ in Chinese import tariffs, which had initially spooked markets.
The simultaneous surge in gold and recovery in stocks reflects mixed investor sentiment – continuing demand for safe assets alongside relief over potentially averted trade escalation.
