Gold and silver hit record highs as markets reel from Trump’s latest tariff threat

The Guardian - World News Economic ImpactNews ReportEN 2 min read 100% complete by Mark SweneyJanuary 19, 2026 at 08:58 AM

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‘We need to fight’: Trump Greenland threat brings sense of unity in Denmark

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Gold and silver prices surged to record highs on Monday, while European stock markets declined following former U.S. President Trump's threat to impose tariffs on eight European countries. The proposed tariffs, aimed at pressuring those countries to sell Greenland to the U.S., triggered investor concern and a shift towards safe-haven assets. Gold rose 1.6% to $4,666 an ounce, and silver climbed to $94.08 an ounce before easing slightly. European markets like France's Cac 40 and Germany's Dax experienced drops of over 1%. The tariff threat also weakened the U.S. dollar against the Swiss franc and Japanese yen. EU ambassadors are reportedly preparing retaliatory measures in response to Trump's potential actions.

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Key Claims (5)

AI-Extracted

Trump said he would impose a 10% tariff beginning on 1 February on any and all goods sent to the United States of America.

quote — Trump100% confidence

Trump threatened to impose a 25% tariff on eight European countries until the US was allowed to buy Greenland.

factual100% confidence

Silver climbed to a record high of $94.08 an ounce, before easing to $93.15, up 3.6%.

statistic100% confidence

Gold rose 1.6% to $4,666 an ounce on Monday morning, after reaching an all-time high of $4,689.

statistic100% confidence

Geopolitical tensions have given the gold bulls yet another reason to push it to new highs.

quote — Matt Simpson, StoneX80% confidence

Claims are automatically extracted and should be independently verified. Attribution indicates the stated source of the claim.

Key Entities & Roles

Key Player Opposition Context

United Kingdom 50% France ×250% Germany ×250% Netherlands 50% Finland 50% Denmark 50% Norway 50% Sweden 50% European Union 60% Greenland ×670% United States ×380% Donald Trump ×690%

Keywords

tariffs 90% gold prices 90% silver prices 80% donald trump 80% record highs 70% safe-haven assets 70% stock markets 70% greenland 70% geopolitical tensions 60% retaliatory measures 50%