Precious metals started the week strongly, driven by safe-haven buying due to uncertainty over U.S. tariff policies. Gold futures rose above $5,200 per ounce, while silver surpassed $85 per ounce, extending prior gains. Last Friday, the U.S. Supreme Court rejected a tariff policy implemented by former President Donald Trump under emergency powers. In response, Trump promptly announced a 10% universal tariff on global imports, effective for up to 150 days, and raised the rate to 15% on Saturday. The court ruling has also cast doubt on trade agreements between the U.S. and key partners. The European Union postponed a vote on a trade deal with the U.S. for the second time, awaiting further clarity, while Indian officials delayed a planned visit to the United States. David Morrison, senior market analyst at Trade Nation, noted that Trump's abrupt policy shifts have reignited concerns over retaliatory measures, supply chain disruptions, and weak global demand, factors that traditionally benefit non-yielding safe-haven assets like gold. Peter Cardillo of Spartan Capital Securities wrote that as tariff-related uncertainty spreads, gold prices are expected to reach new record highs. Meanwhile, ongoing uncertainty surrounding U.S.-Iran negotiations has kept markets on edge, further supporting investor interest in safe-haven assets such as precious metals. Trading data showed that February gold futures on the COMEX rose 2.9% to settle at $5,204.70 per ounce, while February silver futures gained 5.1% to close at $86.523 per ounce. Both settlement prices marked the highest levels since January 29. Relevant ETFs include SPDR Gold Shares (GLD.US), VanEck Gold Miners ETF (GDX.US), and VanEck Junior Gold Miners ETF (GDXJ.US).