The dollar rose on Monday due to an openness to a trade deal with China, easing tensions. However, a rebound in stocks limited demand. Philadelphia Fed President Anna Paulson favors two more rate cuts. The ongoing US government shutdown impacts the dollar negatively.

Gold and silver prices surged on Monday, reaching new highs. Precious metals continue to be in demand as a safe haven amid trade tensions and government shutdown. Dovish comments from the Fed further boosted prices.

China’s September exports and imports exceeded expectations, with the biggest increases in months. Precious metals receive support from fund buying of ETFs. Gold and silver holdings in ETFs are at 3-year highs. China’s positive trade news also boosted industrial metals and silver prices.

Read more at Yahoo Finance: Dollar Gains as China Trade Tensions Ease