Global gold prices reached an unprecedented peak today, climbing over 1.3% to surpass US$5,170 per ounce in early Monday trading. This surge is primarily driven by widespread investor panic following U.S. President Donald Trump's announcement over the weekend that he will implement a 15% blanket tariff on all global imports. The move toward safe-haven assets intensified as the U.S. dollar weakened following a Supreme Court ruling that limited the President's emergency tariff powers. 

The announcement has triggered a wave of risk aversion across international markets, causing oil prices to slide as traders fear a global economic slowdown and reduced fuel demand. While gold hit record highs, Bitcoin plummeted over 5% to fall below the US$64,000 mark, highlighting a sharp divergence between traditional safe havens and volatile digital assets in the face of trade uncertainty. 

Financial analysts at Bloomberg and Reuters report that the market instability is likely to persist as major trading partners, including China and the European Union, begin assessing the impact of the new 15% rate. China’s Commerce Ministry has already urged Washington to lift these "unilateral" measures, warning that they violate international trade rules and threaten the stability of the global economy.