The prices of precious metals jumped on Monday, a day before United States President Donald Trump's tariffs against Canada, China, and Mexico were about to enter into force, leaving traders to assess what effect those could have on the global economy and to turn to the investors' safe haven.

Gold rose by 1.07% at 9:39 am ET to sell for $2,881.89 per ounce. Silver soared by 2.33% to go for $31.82 per ounce. A minute later, platinum surged by 1.67% to sell for $965.49. Palladium skyrocketed by 2.38%, going for $929.74 per ounce.