Gold and silver prices surged to unprecedented levels in early trading on Monday as investors flocked to safe-haven assets amid growing tensions after US President Donald Trump threatened to impose additional tariffs on European countries over the Greenland issue.
Price update
The price of gold in spot trading rose 1.6 percent to $4,670.01 an ounce by 0110 GMT, after hitting an all-time high of $4,689.39.
U.S. gold futures for February delivery jumped 1.8 percent to $4,677, according to Reuters data.
Silver rose 4.4 percent in spot trading to $93.85 an ounce after hitting an all-time high of $94.08.
Trump on Saturday vowed a wave of tariffs on European allies until the United States is allowed to buy Greenland, escalating a dispute over the future of the vast Arctic island belonging to Denmark.
As for other precious metals, platinum rose 1.9 percent in spot trading to $2,373.08 an ounce, and palladium rose 0.5 percent to $1,809 an ounce.
