Gold, Silver Prices At Record High: Gold and silver prices hit a record high at the international spot market following the rising geopolitical uncertainty over US President Donald Trump’s rhetoric to acquire
Greenland, an autonomous territory of Denmark. Trump has gone one step further by putting additional 10 per cent tariffs on many European countries amid staunch opposition to his whimsical demand.
Greenland’s acquisition attempt by the US has thrown the world into turmoil, with the European Union scrambling to thwart it. European Commission President Ursula Von Der Leyen and European Council President Antonio Costa responded with a joint statement, stating that such measures would weaken transatlantic ties and could trigger a harmful cycle.
Meanwhile, the Trump-led US administration announced 10% fresh tariffs on all European countries, marking a total rise of about 25 per cent from June this year.
“We have subsidized Denmark, and all of the Countries of the European Union, and others, for many years by not charging them Tariffs, or any other forms of remuneration.
Now, after Centuries, it is time for Denmark to give back — World Peace is at stake! China and Russia want Greenland, and there is not a thing that Denmark can do about it. They currently have two dogsleds as protection, one added recently. Only the United States of America, under PRESIDENT DONALD J. TRUMP, can play in this game, and very successfully, at that! Nobody will touch this sacred piece of Land, especially since the National Security of the United States, and the World at large, is at stake.”
Gold, Silver Prices Shoot Up
Whenever uncertainty arises at the macro level, investors tend to look for the safety of their investment. Gold and silver work as a hedge against uncertainty.
At the international spot market, gold hit a fresh record of $4,665.38 per ounce, rising about 1.57 per cent. Meanwhile, silver also touched the record high of $93.14 per ounce, with a staggering rise of 4.79 per cent.
At COMEX, gold touched the high of $4,698 per ounce. Silver rose to $94.36 per ounce before slipping a bit.
