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International gold and silver prices surged to fresh all-time highs on Monday as renewed tariff threats by US President Donald Trump against European countries triggered global market uncertainty. Investors rushed toward safe-haven assets, pushing precious metals to record levels amid rising geopolitical and trade tensions.
Gold prices climbed sharply during early trading, with spot gold touching a historic peak of $4,689.39 per ounce before easing slightly to around $4,666. US gold futures for February delivery also posted strong gains, rising 1.7 percent to $4,671.40 per ounce, reflecting sustained investor demand.
Silver outperformed gold in percentage terms. Spot silver prices jumped nearly 4 percent, reaching a record high of $94.08 per ounce before settling near $93.50. Analysts noted that silver’s rally is being fueled not only by safe-haven buying but also by tight supply and strong industrial demand, particularly from renewable energy and electronics sectors.
The surge in precious metals followed President Trump’s warning over the weekend that the United States could impose escalating tariffs on European allies unless Washington is allowed to purchase Greenland. According to international media reports, European Union ambassadors are already preparing retaliatory measures, raising fears of a fresh transatlantic trade confrontation.
Market experts say such geopolitical uncertainty traditionally boosts demand for gold and silver. One analyst was quoted as saying, “Whenever trade tensions rise and diplomatic relations become unpredictable, investors move quickly toward assets that preserve value.”
The bullish momentum was not limited to gold and silver. Platinum rose 1.1 percent to $2,353.25 per ounce, while palladium edged up 0.2 percent to $1,804.06, supported by expectations of stable industrial demand.
However, analysts cautioned that the rapid pace of gains, especially in silver, could lead to short-term volatility in the coming weeks if profit-taking accelerates.
With global markets closely watching developments on US–EU trade relations, precious metals are likely to remain sensitive to political statements and policy signals. If tariff threats materialize, analysts believe gold and silver could continue to trade at elevated levels.
