The price of precious metals have continued a historic rally amid a weakening dollar and global uncertainty, like President Donald Trump’s push to acquire Greenland and tariff threats.
A weakening dollar and global uncertainty have pushed gold and silver to fresh highs on Monday, with the price of gold smashing past $5,100 for the first time while silver surged more than 8% to surpass a record $110.
The price of gold is about $5,086.40 as of 9:45 a.m. EST, slightly down from the all-time high of $5,107.90 the precious metal hit earlier Monday. The price of silver is $110.56 as of 9:45 a.m. EST, up more than 9% but slightly back from the record $110.92 the metal reached earlier in the day. Kyle Rodda, a senior market analyst at Capital.com, told Reuters early Monday the latest surge reflects a ”crisis of confidence in the U.S. administration and U.S. assets,” pointing to “erratic decision-making from the Trump administration” like Trump’s latest tariff threat ongold is the “inverse of confidence,” stating the surging price for the safe-haven asset is a hedge against “unexpected bouts of inflation, unanticipated drawdowns in the market, flare-ups in geopolitical risk.”Some analysts have attributed Monday’s surge in metals prices to Trump’s fresh tariff threats, including the threat of a 100% tariff onif it follows through on a trade deal with China. “China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life,” Trump said in a Truth Social post over the weekend. His Canadian tariff threat follows threats he made to imposeagainst European nations that oppose his desire to annex Greenland, though he backed down on that threat last week. Trump’s push for Greenland, as well as other international events like the capture of Venezuela’s Nicolas Maduro, have pushed metals prices upward this month as investors look to gold and silver as safe-haven assets.cited “geopolitical hotspots” in a note explaining rising metals prices, including “Trump’s desire to control and establish his rights on Greenland’s minerals, attack Iran and plans for Venezuela as it occupies the country.” A weakening dollar has also helped push gold and silver to record highs, with Capital.com market analyst Daniela Hathorn, with the price of gold surging 65% and silver rallying as much as 150%. The metals were boosted by federal interest rate cuts and tariffs imposed earlier in Trump’s second term. Demand for silver, which is crucial in technological industries like electric vehicle production and AI data centers, also increased. Silver also faced aamid fears Trump would place tariffs on the metal, causing a flood of silver into U.S. vaults that diminished supply in the London trading hub, contributing to rising prices.
Silver Metal Price Trump Tariffs Greenland
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