Gold prices rose to around $3,360 per ounce on Monday, marking a fourth consecutive session of gains, as President Donald Trump’s announcement of new tariffs drove investors toward the safety of bullion. In letters to the EU and Mexico, Trump set a 30% tariff on both, on both, citing their trade deficits with the US as a “major threat” to national security. Both the EU and Mexico described the tariffs unfair and disruptive, while the EU said it would extend its suspension of countermeasures to US tariffs until early August and continue to push for a negotiated settlement. This follows a broader set of tariff hikes targeting over 20 countries - including Japan, South Korea, Canada, and Brazil - as well as a 50% duty on copper imports. The new measures are set to take effect on August 1. Meanwhile, investors are closely watching key US economic reports this week - including CPI, PPI, industrial production, and retail sales - for clearer signals on the Federal Reserve’s next policy decision.