Gold and silver prices reached record highs on Monday after US President Donald Trump announced a 10% import tariff on European countries that sent military personnel to Greenland.
In times of uncertainty, gold and silver are often seen as safe investments. Gold prices climbed to $4,690.59 (€4035.17) per ounce (31.1 grams), while silver rose to $94.12 (€80.97).
"Geopolitical risks continue to escalate," said Kyle Rodda, an analyst at Capital.com, in an interview with Bloomberg. "New trade uncertainties undermine growth prospects, and the US foreign policy impacts confidence in the US dollar. It’s the perfect mix for gold and silver."
