Gold surged past $2,900 per ounce and aluminum, iron ore, copper and silver futures rose after President Donald Trump said he'd target metal imports.

Gold prices jumped more than 1% on Monday to hit a record high, as safe-haven demand surged on fears of a global trade war after U.S. President Donald Trump announced new tariff plans. Spot gold was up 1.

Gold prices extended their winning run on Monday to hit another record high as U.S. President Donald Trump said he will impose 25% tariffs on all steel and aluminium imports.

To be sure, as the threat of tariffs has escalated in recent months, gold GC00 has been in a strong bull market — surging above $2,900 this week for the first time ever. It is up more than 10% just since the beginning of the year and almost 45% over the past 12 months.

Gold climbed more than 1% on Monday, as U.S. President Donald Trump's latest tariff plans heightened fears of a global trade war, fuelling demand for the safe-haven metal and pushing bullion prices to record highs.

Gold rose to a record after US President Donald Trump said he would announce tariffs on steel and aluminum imports Monday, adding to increasing uncertainty in global financial markets.