After reaching an all-time high in the previous session, gold prices fell by nearly 1% on Monday under the weight of growing fears of a global trade war following the radical tariff measures of US President Donald Trump.

On Saturday, Donald Trump imposed 25% tariffs on imports from Canada and Mexico and 10% on goods from China beginning on Tuesday. White House officials said there would be no exceptions to these tariffs.

Faced with this situation, spot gold fell 0.9% to $2,776.05 per ounce at 03:03 GMT after prices hit a record high of $2,817.23 GMT after prices hit a record high of $2,817.23 on Friday. US gold futures fell by 0.9% to 2,810.80

Gold exceeds $2,800 as tariff threats relaunch record rally

Spot silver fell 1.4% to $30.87 per ounce, platinum fell 1.9% to $958.72, and palladium fell 1.7% to $991.50.