Gold stayed above $5,000 an ounce for a second consecutive session, extending a scorching rally driven by geopolitical tensions and investors’ retreat from sovereign bonds and currencies, with a weaker dollar adding further support.

Bullion rose as much as 1.3% on Tuesday, marking its seventh straight day of gains. The advance came after President Donald Trump threatened higher tariffs on South Korean goods, while the dollar slid to its lowest level in nearly four years amid growing speculation that the US may assist Japan in shoring up the yen. The currency weakness made precious metals more affordable for most buyers. Silver surged nearly 7%.