Gold price breaks $4,700 record as Trump’s Greenland tariff threat drives safety bid
Gold prices blasted through $4,700 an ounce on Tuesday, hitting fresh highs as investors flocked to the safe haven. Spot gold gained 1.3% to $4,727.99 per ounce by 0910 GMT, after briefly touching $4,731.34. U.S. gold futures surged 3% to $4,734.10. Silver edged up 0.7% to $95.34, just below its record $95.488. “Tariff threats and the push for lower U.S. rates are pushing gold to fresh highs,” said UBS analyst Giovanni Staunovo. The metal has jumped 9.5% in the first 20 days of 2026 and climbed more than 70% since Trump’s second term began.