Gold rises to $4,044.29 per ounce

Gold rose to a new record high today, Monday, supported by demand for safe havens, amid renewed trade tension between the United States and China and expectations of the Federal Reserve (the US central bank) cutting interest rates.

Gold in spot transactions increased 0.7 percent to $4,044.29 per ounce, after hitting a record high of $4,059.30 earlier in the session.

US gold futures for December delivery rose 1.6 percent to $4,062.50.

Silver jumped in spot transactions by two percent to a record level of $51.52 per ounce, influenced by the same factors that move gold. Platinum also rose 2.6 percent to $1,628.80, and palladium increased 2.6 percent to $1,442.06.