Stocks Market
Gold Surges to New All‑Time High Above $4,660 After Trump's EU Tariff Warning
On Monday, gold prices jumped more than 1 % to break the $4,660‑per‑ounce barrier, spurred by a wave of safe‑haven buying after former U.S. President Donald Trump announced fresh tariff threats on European imports. Trump warned that a 10 % duty could be imposed on goods from eight EU nations from February 1, with a possible rise to 25 % in June if his demand for Greenland is not met, prompting urgent talks in Brussels about retaliatory measures worth €93 billion.
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Gold Hits Record Levels
Monday, 19 January 2026 – Spot gold surged past the $4,660 per ounce mark, climbing more than 1 % in a single session. The rally was driven by heightened demand for safe‑haven assets after former U.S. President Donald Trump warned of fresh tariff actions against European imports.
Trump’s New Tariff Threat
At a press briefing on Saturday, Trump announced that the United States would impose a 10 % duty on goods arriving from eight European Union countries starting 1 February. He added that the rate could rise to 25 % in June if his broader request – to acquire Greenland – is not satisfied.
The statement reignited market anxiety and sparked an emergency meeting of EU leaders, who are now weighing retaliation options that could involve up to €93 billion in tariffs on American products.
Why Gold Is Shooting Higher
The metal’s upward momentum continues from a strong 2025 performance, bolstered by capital flows into safe‑haven assets amid geopolitical tensions in Venezuela and Iran. At the same time, renewed doubts about the independence of the U.S. Federal Reserve have added fuel to the fire.
Related Headlines
- Europe braces for a potential slide as U.S. tariff threats intensify.
- WTI crude hits one‑month high following Trump’s latest trade warning.
- Analysts advise caution in Europe as markets question Fed independence.
- Gold previously broke $4,590 per ounce earlier this week.