"Will you regret not buying now?"…Gold and silver jump on Trump pressure, and then

"Tariffs if Greenland isn’t sold"—Trump pressure

Gold and silver hit record highs

Over the next 3 months, gold and silver prices

Seen topping $5,000 and $100 per ounce, respectively

After U.S. President Donald Trump signaled the possibility of imposing additional tariffs on European countries to secure Greenland, gold and silver prices surged to all-time highs.

According to Bloomberg and other foreign media, the international spot gold price hit a record $4,690.59 per troy ounce (hereafter ounce; 31.1 g) at 8:30 a.m. Korea time on the 19th, and was trading at $4,667.38 as of 9:15 a.m. on the 20th.

Spot silver prices jumped to as high as $94.7295 at 8:00 a.m. on the 20th, before coming in at $93.8835 at 9:15 a.m. the same day.

The move came as tensions rose that a 'trade war' could erupt between the United States and the European Union (EU). With market concerns growing that a 'Sell America' (selling U.S. stocks) wave could intensify, the dollar has weakened while precious metals prices have climbed.

The U.S. dollar index (DXY), which measures the dollar’s value against six major currencies including the euro, stood at 99.03 as of 9:15 a.m. Korea time on the 20th, down 0.36% from the previous day’s close (99.39). Peter Malin-Jones, an analyst at UK investment bank Peel Hunt, told Bloomberg, "Recent volatility in precious metals prices reflects a shift away from U.S. dollar assets and inflation concerns that could be triggered by a U.S.-Europe trade war."

U.S. business outlet CNBC reported that precious metals prices are likely to keep rising this year as demand for safe-haven assets spreads amid geopolitical crises, alongside factors such as major central banks’ tendency to build gold reserves. Citigroup forecast that over the next three months, gold and silver prices will break above $5,000 and $100 per ounce, respectively.

Park Su-rim, Hankyung.com reporter paksr365@hankyung.com