Silver hit a high above $84 after Trump announced possible measures against Iran
Key receivers
Gold prices are at an all-time high due to geopolitical risks. Silver hit a new record high of $84 an ounce, driven by investment and industrial demand.
Share this article
Precious metals rose early on Monday as investors sought safety amid rising geopolitical tensions. Spot gold hit new highs around $4,600, while silver was seen trading above $84.
The demonstrations come amid growing tensions between the US and Iran over domestic unrest in Iran. The United States is considering a range of punitive measures against the Middle Eastern country in response to its deadly crackdown on protesters that has killed hundreds of people, The Guardian reports.
In announcing Tehran's offer to negotiate, Trump warned that the rising death toll among the opposition was approaching a “red line” and pledged support for the protesters.
Iranian officials have rejected foreign intervention and threatened to use any military action against US and Israeli interests.
Rising U.S.-Iranian tensions are fueling fears of ongoing geopolitical instability, especially after the U.S. recently launched a military operation in Venezuela that unexpectedly arrested its leader.
In addition to the escalating US-Iran conflict, demand for safe-haven assets is evident in continued inflows into gold and silver ETFs.
Market participants are weighing a broader range of policy risks, including uncertainty over U.S. trade measures and a pending Supreme Court decision on Trump's tariff agenda. Analysts say US dollar movements, the stance of federal policy and inflation and employment data will be key drivers in the coming days.
