Trade Tensions Between Europe and US Resurface Gold and Silver Surge

Precious Metals Rally Amid Rising Tensions

Gold and silver prices surged Monday morning as gold futures jumped above $4,660 per ounce, hitting a new historical high with a 1.4% intraday gain. Silver also performed strongly, rising to a high of $92.81 per ounce, up 2.8% on the day.

Equity Futures Under Pressure

In contrast, US equity futures faced downward pressure, with Nasdaq futures falling by 1%. Investors grew cautious amid renewed trade tensions between the US and Europe, raising concerns over potential impacts on global economic recovery.

Trump's Comments Trigger Market Volatility

Market volatility followed former President Trump’s weekend remarks about Greenland, a self-governing territory of Denmark. Reports indicate that several EU countries are considering imposing additional tariffs on $93 billion worth of US exports, heightening uncertainty.

Oil Markets Stabilize

Meanwhile, WTI crude oil futures opened 0.8% lower but quickly rebounded, nearly erasing early losses. While concerns over global demand weighed on sentiment, ongoing geopolitical risks continued to provide some support to oil prices.