BENGALURU: Gold and silver hit record highs on Monday, driven by a flight to safety after US Presi\u00addent Donald Trump warn\u00aded of extra tariffs on some European countries in a dispute over Greenland.<\/p>\n
Spot gold jumped 1.7 per cent to $4,672.49 an ounce by 12:05pm ET (1705 GMT), after scaling a record peak of $4,689.39.<\/p>\n
US gold futures for February delivery advanced 1.8pc to $4,677.70 an ounce.<\/p>\n
Trump threatened several European allies with a series of escalating tariffs on Saturday unless the US is allowed to buy Greenland, intensifying a dispute over Denmark\u2019s vast Arctic island.<\/p>\n
Markets expect the Fed to leave rates on hold at its meeting over January 27-28 but are pricing in at least two cuts of 25 basis points this year.<\/p>\n
Elsewhere, spot silver climbed 5pc to $94.41 an ounce after hitting a record high of $94.61. Silver has risen more than 32pc since the start of the year.<\/p>\n
Analysts at Citi Research said they remain tactically bullish on precious metals, setting price targets of $5,000 an ounce for gold and $100 an ounce for silver in the next three months.<\/p>\n
In other metals, spot platinum added 1.5pc to $2,362.65 an ounce while palladium rose 1.1pc to $1,819.99.<\/p>\n","protected":false},"excerpt":{"rendered":"
BENGALURU: Gold and silver hit record highs on Monday, driven by a flight to safety after US Presi\u00addent Donald Trump warn\u00aded of extra tariffs on some European countries in a dispute over Greenland. Spot gold jumped 1.7 per cent to $4,672.49 an ounce by 12:05pm ET (1705 GMT), after scaling a record peak of $4,689.39. […]<\/p>\n","protected":false},"author":1,"featured_media":15436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/15435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15435"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/15435\/revisions"}],"predecessor-version":[{"id":15437,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/15435\/revisions\/15437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/15436"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}