Gold, Silver Hit Record Highs as Trump Threatens Tariffs on Europe Over Greenland

Gold and silver prices reached record highs as President Donald Trump threatened tariffs on eight European countries over their refusal to allow the U.S. to buy Greenland. Trump announced 10 percent tariffs starting February 1, rising to 25 percent in June if demands are unmet. European nations condemned the threats as damaging to transatlantic relations and considered retaliatory measures, including activating the EU's anti-coercion instrument. The tensions caused declines in U.S. stock futures and the dollar, while safe-haven assets like gold, silver, yen, and Swiss franc gained. Cryptocurrencies also fell amid increased market uncertainty.