Gold & Silver Scale Record Peaks Due to Trump’s Threats Regarding Tariffs:-
Gold and silver rates reached a new peak after President Trump made a statement regarding tariffs imposed on imports from Europe regarding the conflict over Greenland. This measure is expected to come into action on February 1, 2026, after which the percentage may go to 25% on June 1, 2026, provided a “Complete and Total purchase of Greenland” is made.
Tariff Details-Countries that will be Affected: Denmark, Norway, Sweden, France, Germany, UK, Netherlands, and Finland
- Tariff Rates: 10% from Feb 1, 2026; then 25% from Jun 1, 2026
- Condition: Tariff measures will remain in force until a trade agreement for the Full Acquisition of Greenland has been achieved
Market Reaction- Gold Price: Attained a record-breaking price of $4,689.39 per ounce, while it is currently at $4,670.01 per ounce. - Silver Price: Touched the highest level of $94.08, and it is currently increasing by 4.4% at $93.85 per ounce - European Stocks: Down, with the German DAX Down 1.1% and the French CAC 40 Down 1.3%
What's Next?The market is closely watching the upcoming Monetary Policy Meeting of the Bank of Japan on January 22-23, 2026, for potential indications on interest rates and monetary policies.
