#GOLD #Silver Hit Record Highs as Trump's Greenland Tariffs Spark Safety Rally
Gold and silver prices have surged to new record highs amid escalating trade war fears stemming from President Trump's tariff threats against European nations over the proposed U.S. acquisition of Greenland. Gold futures climbed above $4,750 per ounce, while silver reached a peak of around $95 per ounce as investors sought safe-haven assets.
Key Insights
Safe-Haven Demand: Geopolitical tensions and market uncertainty have driven strong investor demand for gold and silver, traditionally viewed as secure assets during times of crisis.
Tariff Impact: President Trump's threat to impose a 10% tariff on goods from eight European countries (potentially rising to 25% by June 1) until a deal on Greenland is reached has rattled global stock and bond markets, further boosting precious metals.
Supply Dynamics: The silver market, in particular, has a structural supply deficit which has been exacerbated by the recent tariff threats, contributing to its significant price surge.
Market Volatility: The situation has led to widespread market volatility, with stock markets in the U.S., Europe, and Asia all falling in response to the escalating tensions.
#GoldandSilveratHi gh