Gold and silver set new records as US-Europe trade tensions rise

Gold and silver hit record highs after reported US tariff threats linked to Greenland, and 10% levies are reported to be due next month.

Gold and silver reached all-time highs in early trading as investors reacted to reported trade tensions between the United States and several European countries tied to US efforts over Greenland. The report cites spot gold at $4,690.79 per ounce and spot silver at $94.10 per ounce. It says the moves followed US tariff threats of 10% on several European nations, with those levies reported to be scheduled to start next month. Reported developments: - Spot gold and spot silver were reported at record levels, with the article noting gains of about 2% for gold and about 5% for silver during the session. - The price moves were linked in the report to US tariff threats after resistance from some European governments to US efforts concerning Greenland, and the levies are reported at 10% and due next month. - The article says an analyst attributed part of the metals' gains to a shift away from dollar assets and to concerns about potential inflationary and economic effects from rising trade tensions. Summary: The reported rise in precious metals reflects increased demand for safe-haven assets amid described US-Europe trade tensions. The next procedural step reported in the article is that the 10% tariffs are expected to take effect next month, and market responses are being observed.