Gold prices continued their upward trend in commodity markets, with futures for June delivery rising amid ongoing global economic uncertainty, APA-Economics reports.
According to data from the New York COMEX commodity exchange, the price of gold futures for one troy ounce (31.1 grams) increased by 0.51%, reaching $3,051 per ounce.
The surge comes as investors remain cautious in the wake of escalating U.S. trade tensions and market instability, prompting increased demand for safe-haven assets like gold.
Meanwhile, silver also saw notable gains. May silver futures rose by 3.04%, trading at $30.12 per ounce on COMEX.
Despite gold being exempted from the recent U.S. "reciprocal tariffs," market volatility and global risk aversion continue to drive precious metals upward.