After slumping last week, gold futures rose 1.9%. Besides serving as a haven amid uncertainty in other markets, traders have been rushing to transport gold bars to U.S. vaults, from overseas, ahead of tariffs.
Silver futures gained 2.6%, their best day since Jan. 30, before the tariffs against Mexico were originally set to take effect. About one of every four ounces of silver produced globally comes from Mexico, according to Societe Generale analysts.
Copper futures added 1.4% and are now up 15% this year. The U.S. imports about 45% of the metal crucial to home construction and electronics manufacturing, with Canada and Mexico being its second- and third-largest suppliers, respectively.