Precious Metals Preview: COMEX gold and silver futures jump to fresh record high on rising safe haven demand

Precious metals surged on Monday morning in Asia to hit fresh record highs on safe haven demand amid renewed concerns after US President Donald Trump imposed fresh tariffs on eight European nations in a bid to gain control of Greenland. As per reports, Trump during the weekend said that he would slap an additional 10% import tariff on eight European nations, including Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the United Kingdom (UK), that have opposed his plan to take Greenland. Currently, gold futures are up 1.72% at $4673.70 an ounce whereas silver futures spiked over 5% to trade at $93.36 per ounce.

Powered by Commodity Insights