Overview
- Gold touched $4,878 per ounce in early Wednesday trading to set a new all‑time high, while silver traded around $95.55 after Tuesday’s record near $95.89.
- President Donald Trump’s threat to levy 10% tariffs on EU countries from February, rising to 25% in June over the Greenland dispute, spurred fresh buying of precious metals.
- U.S. stocks fell more than 2% and the dollar logged its biggest daily drop in over a month as investors reduced U.S. exposure ahead of Trump’s Davos speech, bolstering gold and silver.
- An estimated $7 billion in commodity‑index rebalancing sales was absorbed without a lasting price drop, and a near 12% China premium to Western silver prices highlights localized tightness despite ample U.S. and London inventories.
- Analysts cite strong silver momentum with a psychological $100 target and key support near $73, while warning that sharp gains risk corrections and potential industrial substitution, including solar manufacturers shifting toward copper.