India, April 21 -- Gold prices were up around 2 percent on Monday, nearing $3,400 per ounce after U.S. President Donald Trump's social media post highlighted the crucial role of gold in global economic and political dynamics.
In a post on Truth Social, the president declared, "THE GOLDEN RULE OF NEGOTIATING AND SUCCESS: HE WHO HAS THE GOLD MAKES THE RULES."
Spot gold jumped nearly 2 percent to $3,393.93 per ounce in early European trade while U.S. gold futures were up 2.3 percent at $3,403.91.
Concerns over potential changes in Fed leadership and U.S. dollar uncertainty also fueled safe-haven demand for the precious metal.
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