Gold and Silver prices surged to new record levels on Monday after US President Donald Trump warned of escalating tariffs on European countries.
Spot gold touched an all-time high of $4,689.39 per ounce before easing slightly to $4,666 per ounce. At the same time, US gold futures for February gained 1.7 percent, reaching $4,671.40 per ounce.
The gains follow Trump’s weekend warning to impose increasing tariffs on European allies unless the United States is allowed to buy Greenland. Reports indicate that EU ambassadors are preparing retaliatory measures in response to the potential tariffs.
Silver also experienced a strong rally. Spot prices jumped 4 percent to $93.50 per ounce, after briefly touching a record $94.08 per ounce. Analysts attributed the rise to supply shortages, growing industrial demand, and safe-haven buying, although some experts cautioned that prices could remain volatile in the short term.
Other precious metals also gained ground. Platinum rose 1.1 percent to $2,353.25 per ounce, while palladium edged up 0.2 percent to $1,804.06 per ounce.
Market analysts note that geopolitical tensions and trade uncertainties often drive investors toward Gold and Silver, which are considered safe-haven assets. The latest tariff threats and potential EU countermeasures have increased demand, pushing prices to record highs.
Investors are closely watching developments in international trade and policy decisions. Analysts expect Gold and Silver to remain volatile in the coming weeks, with the possibility of testing higher levels if tensions continue.
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With ongoing uncertainties in global markets, safe-haven metals are likely to maintain their appeal, supporting sustained demand for Gold and Silver among investors seeking stability.
