Gold Starts the Week with Double Records
Rising U.S.-China Tensions Boost Gold
After briefly falling below $4,000 last week following the Gaza ceasefire plan, gold prices rebounded sharply at the start of the week as trade tensions between the U.S. and China intensified.
Two New Records in a Single Day
- Spot gold jumped more than 1% to reach $4,078 — a new all-time high.
- Gram gold climbed to 5,482 TRY, setting a fresh record in local markets.
Market Focus Shifts Again
Capital analyst Kyle Rodda said that optimism from Middle East developments has faded and that markets are now refocusing on U.S.-China trade uncertainty.
Trade War Escalates Ahead of APEC
U.S. President Donald Trump announced a 100% tariff on Chinese imports, responding to Beijing’s export restrictions on rare earth elements and high-tech equipment.
According to Goldman Sachs, the move aims to strengthen the U.S. negotiating position ahead of the APEC Leaders Summit at the end of the month.
Jefferies analysts noted that despite growing tensions, a trade deal remains possible. “China can endure economic pressure longer due to its socialist system, while Trump may seek compromise once costs outweigh benefits,” they said.
Eyes on the APEC Summit
Experts believe the APEC meeting scheduled for late October could be a turning point in U.S.-China trade relations. Markets will closely watch how Washington and Beijing’s diplomacy shapes the next move in gold prices.
