Gold Just Had Its Best Day Since 2023

Market Updates

GOLD +0.17% NEM +8.43% ABX +6.20% GFI +3.31% XAGUSD1! PL1!

News

Gold prices, which had tumbled from record highs over the past week, reversed course and rose roughly 3% today, the biggest percentage jump since October 2023.

Spot gold was up 3.4% at $3,085.50/ounce. At $88.10 a troy ounce, gold futures' daily gain was the precious metal's largest in dollar terms since March 24, 2020, when markets were being convulsed by Covid lockdown orders and investors were fleeing into the haven asset.

Today's move came amid a bond market rout overnight and in the morning, followed by a historic surge in stock prices in the afternoon after President Trump’s reversal authorizing a 90-day pause on new tariffs for many countries—except for China which got hit with a 125% rate, effective immediately.

Silver gained 3.1% to $30.80/oz., Platinum slipped 1.2% to $931.87, and Palladium was up 1.9% at $923.75

Shares of top miners Newmont NEM and Barrick Gold ABX up ~8% and 4.9%, respectively

U.S.-listed shares of South African miners: Gold Fields GFI up 7.5%, AngloGold Ashanti AU rises 8.9%, Harmony Gold HAR jumps 13.8% and Sibanye Stillwater SW.N> soars nearly 19%

Shares of Canadian miners: Kinross Gold K and Agnico Eagle Mines AEM up 7.6% and 4.5%, respectively.

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MasterMetals

@MasterMetals