Gold and silver hit record highs as Greenland dispute spurs safe-haven

Gold and silver hit record highs as Greenland dispute spurs safe-haven

Gold and silver hit record highs on Monday, pushed by a flight to security after President Trump warned of additional tariffs on some European international locations in a dispute over Greenland.

Spot gold jumped 1.7% to $4,672.49 an oz. by early afternoon, after scaling a record peak of $4,689.39.

US gold futures for February supply superior 1.8% to $4,677.70 an oz..

Spot gold costs hit a record peak of $4,689.39 per ounce on Monday, while silver reached a record $94.61 per ounce.

Trump threatened a number of European allies with a sequence of escalating tariffs on Saturday except the US is allowed to purchase Greenland, intensifying a dispute over Denmark’s huge Arctic island.

“When institutional and policy risks resurface, markets tend to react swiftly by reallocating toward safe-haven assets, with gold once again emerging as the preferred choice,” said Linh Tran, senior market analyst at XS.com.

The greenback fell as Trump’s latest tariff threats raised buyers’ urge for food for safe-haven gold, the Japanese yen and Swiss franc in a broad risk-averse transfer across markets. 

Gold tends to do effectively during instances of geopolitical and financial uncertainty, as effectively as when rates of interest are low. It gained more than 64% in 2025 and is up more than 8% since the start of this 12 months.

Trump has a number of European allies with a sequence of escalating tariffs except the US is allowed to purchase Greenland. ZUMAPRESS.com

Meanwhile, Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday that a fragile job market with the potential to weaken shortly means the central financial institution ought to stand prepared to chop rates of interest again if wanted.

Markets count on the Fed to go away charges on maintain at its Jan. 27-28 assembly however are pricing in a minimum of two cuts of 25 foundation factors this 12 months. 

The dispute over Greenland has been intensifying. Getty Images

Elsewhere, spot silver climbed 5% to $94.41 an oz. after hitting a record high of $94.61. Silver has risen more than 32% since the start of the 12 months.

Analysts at Citi Research said they continue to be tactically bullish on valuable metals, setting value targets of $5,000 an oz. for gold and $100 an oz. for silver in the next three months, citing geopolitical tensions that are more likely to keep elevated in the close to time period.

In other metals, spot platinum added 1.5% to $2,362.65 an oz. while palladium rose 1.1% to $1,819.99.

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