Gold prices extended gains for a fourth straight session on Monday, climbing more than 0.8% to $5,143.55 an ounce as U.S. President Donald Trump's fresh tariff announcement rattled markets. The metal's rally comes amid heightened geopolitical tensions and concerns over global trade disruptions. U.S. Gold Futures also advanced 1.7% to $5,165.86, building on last week's 1% gain.

Trump's announcement of a 10% tariff on global imports for 150 days under Section 122 of U.S. trade law, later increased to 15%, intensified fears of retaliatory measures and supply chain disruptions. The tariff uncertainty, coupled with potential legal and congressional challenges, prompted investors to seek traditional safe havens like bullion and U.S. Treasuries. This flight to safety was further reinforced by mixed U.S. economic data.

Recent economic indicators showed GDP growth slowing to an annualized 1.4% in Q4, while the Personal Consumption Expenditures price index remained above the Federal Reserve's 2% target at 2.9%. The combination of decelerating growth and persistent inflation has bolstered gold's appeal as both an economic hedge and store of value. Market participants now await further developments on the tariff front and upcoming economic data for direction.