The price of gold has reached levels never seen before in global markets. This Tuesday, the precious metal surpassed the barrier of $4,700 per ouncedriven by a geopolitical and commercial context marked by the escalation of tensions between the United States and its European partners around Greenland.
The rise, which placed the price close to $4,730 per ouncerepresents an increase of close to 10% so far this year. Furthermore, if compared to the levels of a year ago, gold has accumulated a revaluation of more than 70% since Donald Trump returned to the US presidency.
Market analysts maintain that concern among investors about a possible deterioration in transatlantic relations – which has even reopened the debate on the role of NATO as it is currently known – has reinforced demand for assets considered as safe havenlike gold.
One of the factors fueling these increases is the increase in threats of tariffs between the United States and the European Union in response to the disagreement over Greenland. In this context, Brussels contemplates possible tariff retaliations worth up to 93 billion euros.
Furthermore, the prospects for future US interest rate cuts and the political attacks on the independence of the Federal Reserve have consolidated the interest of investors in taking refuge in precious metals.
Silver, another of the metals considered a refuge, has also continued its bullish rally, marking highs close to the 95 dollars per ouncewith relevant increases both so far this month and compared to the previous year.