By Alexander Miller, consultant in energy and commodities markets – Eurasia Business News, January 19, 2025. Article no 1995
Gold and silver prices have surged to fresh record highs after President Trump threatened to impose new 10% tariffs on imports from several European countries over the Greenland dispute. The move sparked classic “safe‑haven” buying as investors shifted out of risk assets and into precious metals amid fears of an escalated trade and geopolitical conflict.
Spot gold jumped roughly 1.5–1.7% on January 18, trading around 4,660–4,670 dollars per ounce after briefly touching a record peak near 4,690 dollars.
Spot silver climbed about 3–5%, rising into the low‑90s per ounce and hitting an all‑time high around 94 dollars.
Why tariffs boost precious metals
The tariff threat revives worries about a broader U.S.–EU trade clash and adds to existing geopolitical and economic uncertainties, making non‑yielding assets like gold and silver more attractive as safe stores of value.
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Analysts note that strong central‑bank gold buying, concerns over fiscal deficits and a weaker appetite for the dollar and U.S. bonds are reinforcing this flight to hard assets.
Market backdrop
Global equities and U.S. stock futures fell on the headlines, while traditional havens such as gold, the yen and the Swiss franc gained, reflecting a broader risk‑off mood.
Commentary from market strategists suggests that as long as trade and geopolitical tensions around Greenland and Europe persist, upside pressure on precious metals is likely to remain
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© Copyright 2025 – Eurasia Business News. Article no. 1995
Eurasia Business News 