Overview

• Spot gold hit an intraday peak near $4,078 per ounce and traded around $4,074 by 08:25 GMT, with December futures near $4,094.
• Silver set a fresh record after touching about $51.70 per ounce, last quoted near $51.37.
• President Donald Trump announced 100% tariffs on Chinese imports alongside new export controls on sensitive software starting November 1.
• CME FedWatch shows strong probabilities of 25 basis-point rate cuts in October and again in December, supporting non-yielding assets.
• Gold is up roughly 54% year to date on central-bank buying and robust ETF inflows, while platinum and palladium also climbed.