Gold Surges Past $5,000 Amid Trump Tariff Threats, Geopolitical Uncertainty

• Spot gold climbed 1% to $5,065.07 per ounce, after hitting a record $5,110.50, driven by safe-haven demand.
• Trump's threats of higher tariffs on Canada and South Korea are fueling gold's appeal as a defensive asset.
• U.S. President Donald Trump announced plans to raise tariffs on South Korean imports to 25%, criticizing Seoul's trade deal inaction.
• The U.S. dollar's weakening due to intervention by U.S. and Japanese officials, a looming U.S. government shutdown, and Trump's policies made gold cheaper for overseas buyers.
• Spot silver surged 5.2% to $109.22 an ounce, after reaching a record high of $117.69, with a 53% year-to-date increase.

Why It Matters: Gold prices soared above $5,000, fueled by safe-haven demand amidst Trump's tariff threats and geopolitical tensions.