China installs gold ATM that verifies purity, credits amount in bank account in 30 minutes. Watch

Silver prices rose nearly 1% to around $32.80 per ounce on Monday, bouncing back from the previous session’s losses as a weakening US dollar reignited safe-haven demand.

The greenback came under pressure amid escalating concerns over US economic policy direction and the independence of the Federal Reserve.

Investor anxiety intensified after President Donald Trump threatened to fire Fed Chair Jerome Powell, raising fears of political interference in monetary policy and undermining confidence in the central bank’s autonomy.

Adding to the risk-off mood were heightened US-China trade tensions, with China rejecting what it called US “trade bullying” and warning other countries against making concessions at its expense.

The broader uncertainty helped lift silver, which is often sought as a store of value during times of geopolitical and financial instability.

Copper futures rose above $4.70 per pound on Monday, reaching their highest level in over two weeks as the US dollar weakened amid growing unease over the outlook for US economic policy and Federal Reserve independence.

The dollar's slide came as President Donald Trump escalated tensions with the Federal Reserve, threatening to fire Chair Jerome Powell, a move that rattled investor confidence and raised concerns about the central bank's autonomy.

At the same time, mounting fears over the economic fallout from the US-China trade war added to the risk-off sentiment.

China has pushed back against what it described as American “trade bullying,” warning other countries against making deals that undermine its position.

Copper, often seen as a barometer for global economic health, found additional support from speculation around whether US tariffs could eventually target copper imports.

Malaysian palm oil futures hovered below MYR 3,950 per tonne, marking the sixth straight session of losses and notching a seven-month low This decline stems from persistent concerns over rising output as plantation activities resumed post-holidays.

Traders were also cautious, anticipating heightened market pressure once the 90-day US tariff suspension concludes.

In related markets, crude oil prices dropped over 1.5%, pressured by progress in nuclear talks between the U.S. and Iran.

However, palm oil losses were partially offset by data from Intertek Testing Services, showing an 11.9% rise in Malaysian palm oil exports during April 1–20 compared to the previous month.

In India, the world's largest palm oil importer, March imports surged nearly 14%, with further increases expected due to declining inventories and upcoming festive demand.

Additionally, escalating US-China trade tensions may lead China to reduce US soybean imports, potentially boosting palm oil demand as a substitute.

Palm oil prices fall in Asian trade, amid concerns over rising output and weak general market sentiment, AmInvestment Bank says in a note. However, palm oil exports are likely to increase. In India, March palm oil imports rose nearly 14% and may rise further ahead of the holiday season, it adds. Technical analysis suggests CPO futures are likely to remain bearish, AmInvestment Bank says and sees support at 3,942 ringgit a ton and resistance at 4,033 ringgit a ton. The Bursa Malaysia Derivatives contract for July delivery is down 27 ringgit at 3,948 ringgit a ton.(yingxian.wong@wsj.com)

Gold surged more than 1% to above $3,370 per ounce on Monday, setting a new record high, buoyed by safe-haven demand amid global trade tensions, as well as a weaker U.S. dollar.

Last week, President Donald Trump ordered an investigation into potential new tariffs on all U.S. critical mineral imports—a significant escalation in the trade dispute with global partners, particularly China.

At the same time, the U.S. dollar fell to a three-year low, making gold more attractive to holders of other currencies.

In addition, the European Central Bank's recent interest rate cut enhanced the precious metal's allure in a low-yield environment.

Meanwhile, White House economic adviser Kevin Hassett on Friday said that the Trump administration was continuing to study if they could fire Federal Reserve Chair Jerome Powell, a sign that such a move, a matter of great consequence for the central bank's independence and for global markets, is still an option.

Brent crude oil futures dropped more than 1% to around $67.1 per barrel on Monday as progress in nuclear negotiations between the U.S. and Iran eased concerns over potential supply constraints.

Iran’s foreign minister said that the two nations on Saturday reached an agreement to start drawing up a framework for a possible nuclear deal.

The Trump administration also expressed optimism, pointing to “very good progress”.

A third round of high-level talks is set to take place next Saturday in Oman.

Additionally, traders remain cautious amid the ongoing U.S.-led trade war, which continues to weigh on global economic growth prospects and the outlook for energy demand.

Meanwhile, hopes for a brief pause in hostilities were dashed as Ukraine and Russia accused each other of violating a 30-hour “Easter truce” announced by Russian President Vladimir Putin.

Ukrainian officials urged Russia to extend the truce, however, the expiration time came with no mention of an extension from Russia.