Gold prices have risen by 1.6% to over $3,387 per ounce, primarily driven by increased demand from China as markets reopened after a five-day holiday.
The precious metal’s value has increased by more than 25% this year, reaching a record high of $3,500 in April.
This growth is attributed to gold’s safe-haven status amid market uncertainty caused by President Trump’s trade policies, Chinese speculative buying, and central bank purchases.
Investors are now watching for the Federal Reserve’s upcoming interest rate decision.