Gold Surges Past $5,000 as Trade Tensions Fuel Safe-Haven Rally
Gold breached $5,000/oz for the second consecutive day, extending its seven-day rally as Trump's tariff threats against South Korea and Canada triggered capital flight from traditional assets. The precious metal's 1.8% intraday gain coincided with silver's 9% surge to $112/oz, now just 5% below its all-time high.
Market dynamics reflect deepening risk aversion - OCBC analysts revised their 2026 gold target to $5,600/oz while the weakening dollar enhanced metals' appeal. The tariff escalation (25% on South Korean goods, proposed 100% on Canada) follows stalled trade negotiations, creating arbitrage opportunities across commodity and digital asset markets.