Gold and silver reach record levels as Trump’s dispute over Greenland escalates

Gold and silver prices recorded new record levels during trading today, Monday, with investors flocking to safe haven assets, following US President Donald Trump’s threat to impose additional customs duties on European countries against the backdrop of the dispute over control of the island of Greenland.

And Goldin spot transactions rose 1.6%, reaching $4,666.11 per ounce by 05:51 GMT, after touching a record level at $4,689.39.

Gold futures rose in United States February delivery rose 1.7% to $4,671.90 an ounce.

And Trumplast Saturday pledged to impose an escalating wave of tariffs on European allies, until he allowed the United States to buy Greenland, which led to a new escalation in the dispute over the future of the Antarctic island belonging to Denmark.

On the other hand, European Union ambassadors are preparing to discuss retaliatory measures in the event that these tariffs are implemented, according to what European diplomats reported.

Matt Simpson, a senior analyst at the company, said: “Stone Gold, the Japanese yen and the Swiss franc, as part of a wide wave of risk aversion in the markets.

In the silver market, the spot price jumped by 3.6% to $93.15 per ounce, after hitting a record level of $94.08.

Christopher Wong, market analyst at OCBC, said: “The medium-term prospects for silver remain positive, supported by a continuing deficit in physical supply, and strong industrial demand, in addition to demand.” On safe havens.”

But at the same time, he pointed out that “the recent pace of rise may call for some caution in the near term,” pointing out that the ratio of gold to silver declined sharply from levels near 105 in late 2025 to levels in the fifties, which reflects the superior performance of silver compared to gold.

For their part, JPMorgan analysts said that they prefer gold over silver at the current stage, explaining that any sharp correction in silver Its impact may extend temporarily to gold, but it will remain – according to their estimation – a buying opportunity, with gold enjoying a clearer structural rise story.

With regard to other precious metals, platinum rose by 0.6% to $2,341.08 per ounce, while palladium rose by 0.1% to $1,801.87.

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