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“Gold And Silver Surge As Trump’s Tariffs Rock Global Markets”
Gold and silver surged to record highs on Monday, January 19, 2026, as global equity markets wobbled following renewed trade tensions sparked by United States President Donald Trump. He threatened several European countries with punitive tariffs over their opposition to Washington’s proposed takeover of Greenland, heightening fears of a widening trade conflict.....KINDLY READ THE FULL STORY HERE▶
The escalation added strain to an already fragile geopolitical climate, pushing investors toward safe-haven assets amid concerns over potential disruptions between major economic blocs.
Trump, who has repeatedly argued that US control of Greenland is vital for national security, intensified tensions after talks with European nations failed to resolve what he described as a “fundamental disagreement.” On Saturday, he announced plans to impose tariffs on eight European countries—including Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland—starting at 10 per cent from February 1, rising to 25 per cent from June 1 if they refused to support the takeover.
The threatened tariffs drew swift condemnation, with the affected nations issuing a joint statement warning that such measures could undermine transatlantic relations and trigger a dangerous downward spiral. The move also cast doubt on last year’s US-EU trade agreement.
German Foreign Minister Johann Wadephul said, “I don’t believe that this agreement is possible in the current situation.” In France, aides to President Emmanuel Macron indicated the EU might activate its “anti-coercion instrument,” which allows the bloc to restrict imports from the US, if Trump follows through. EU member states are reportedly considering retaliatory tariffs on up to €93 billion ($108 billion) of US goods.
The growing threat of a transatlantic trade war rattled financial markets, driving demand for traditional safe-haven assets. Gold climbed to a historic $4,690.59 per ounce, while silver hit $94.12, continuing gains spurred by previous tensions with Iran and the US-backed ouster of Venezuelan President Nicolas Maduro.
Equity markets across Asia reacted negatively, with major indices in Tokyo, Hong Kong, Shanghai, Sydney, Singapore, and Wellington closing lower. Seoul and Taipei recorded modest gains. European and US futures also pointed downward, reflecting ongoing investor caution.
Currencies and Commodities
The US dollar weakened against major peers as risk aversion intensified, while the euro, pound, and Japanese yen strengthened. Market strategist Charu Chanana of Saxo Markets noted that investors would closely watch whether the threats move from rhetoric to concrete policy, emphasizing that Europe’s response is equally critical.
“Even if the immediate tariff threat is negotiated down, the structural risk remains—politicized trade, conditional supply chains, and higher policy risk for companies and investors,” Chanana said.
Oil prices were mixed, with West Texas Intermediate rising slightly to $59.52 per barrel, while Brent crude remained flat at $64.15.
Market Snapshot (as of 0230 GMT)
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Japan’s Nikkei 225: 53,412.88, down 1.0%
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Hong Kong Hang Seng: 26,670.01, down 0.7%
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Shanghai Composite: 4,099.23, down 0.1%
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Euro: $1.1628 | Pound: $1.3397 | Dollar/Yen: 157.54
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Dow Jones Industrial Average: 49,359.33, down 0.2%
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FTSE 100: 10,235.29, flat
Despite new data showing China’s economy grew 5 per cent last year, slowing in the final quarter added to global economic concerns. Investors also weighed warnings from US Commerce Secretary Howard Lutnick, who threatened up to 100 per cent tariffs on South Korean and Taiwanese firms that fail to expand production in the US.
Analysts expect continued market volatility as investors closely monitor whether Trump’s tariff threats will materialize into formal policy action.
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