Summary
Gold and silver prices have reached record highs after President Donald Trump threatened new tariffs on eight European countries due to disagreements over Greenland. The rise in precious metals comes amid fears of uncertainty and potential trade disputes. Asian and European stock markets saw declines, while the U.S. markets were closed for a holiday.
Key Facts
- President Donald Trump plans to impose new tariffs on eight European countries because of a disagreement over Greenland.
- The price of gold hit $4,689.39 an ounce, and silver reached $94.08 an ounce.
- Gold and silver are considered safe investments in uncertain times.
- European Union might respond with €93 billion in tariffs on U.S. imports.
- Stock markets in Asia and Europe fell, including drops in Germany and France's indexes.
- U.S. stock markets were closed due to a public holiday.
- President Trump announced the tariffs would start at 10% on February 1 and could increase to 25%.
