At 08:30 Lisbon time, gold was trading at $3,467.87 per ounce, following a surge to $3,500.10 earlier in the day.
The rising gold prices have been driven by the ongoing trade war and tensions between U.S. President Donald Trump and Federal Reserve Chair Jerome Powell.
This past weekend, Trump threatened to dismiss Powell, whose term is set to run until May 2026, raising concerns about the central bank’s long-standing independence.
In recent months, gold prices have repeatedly hit record highs amid uncertainties stemming from the trade conflict, recession risks, and purchases of the precious metal by central banks and nations such as China.
