Gold Surges to Record High Amid Trump Tariff Shock, Metals Rally Broadens
Gold prices vaulted to an all-time high of $4,660 per ounce in weekend futures trading as markets digested President Trump's abrupt tariff announcement. The 10% levy on European imports—slated to rise to 25% by June—triggered immediate safe-haven demand, with silver following suit to $94/oz amid industrial supply deficits.
Precious metals now diverge sharply from risk assets. While copper and platinum extend their rallies, cryptocurrencies and equities show muted momentum. This bifurcation echoes 2025's market structure, raising questions about whether metals are signaling sustained inflation hedging or a pre-crash warning.
The tariff decision coincides with geopolitical tensions over U.S. claims on Greenland. European capitals are preparing retaliatory measures, ensuring continued volatility across commodity markets. Analysts note gold's breakout typically precedes either extended bull runs or abrupt liquidity crunches—with the 2026 rally's durability hinging on Fed response to imported inflation.