Gold, silver hit record highs on Monday

Gold and silver surged to new peaks on Monday as investors sought safe-haven assets following US President Donald Trump’s threat to impose additional tariffs on European countries over Greenland.

Spot gold jumped 1.6 per cent to $4,666.65 per ounce, briefly reaching an all-time high of $4,689.39, while US February gold futures rose 1.7 per cent to $4,671.40. Spot silver climbed 4 per cent to $93.50, hitting a record $94.08. Analysts attributed the gains to escalating geopolitical tensions, resilient industrial demand for silver, and persistent physical deficits.

Other precious metals also rose, with platinum up 1.1 per cent to $2,353.25 per ounce and palladium up 0.2 per cent at $1,804.06.

Attribution: Reuters