Gold prices surged over 2% on Monday, driven by expectations of U.S. interest rate cuts and safe-haven demand ahead of U.S.-China trade talks and delayed inflation data.

Spot gold rose to $4,336.94 per ounce, with December futures climbing 3.3% to $4,354, following a record high last Friday.

Investors anticipate further gains, with analysts projecting prices could reach $4,500 or even $5,000 per ounce next year amid ongoing political and economic uncertainty, Reuters has reported.

Silver, platinum, and palladium also gained, reflecting broader strength in precious metals markets.