Platinum futures slipped around $2,340 per ounce but stayed near record levels as heightened US-Europe tensions over President Trump’s threats to acquire Greenland boosted safe-haven demand for precious metals. Trump has threatened tariffs of 10% on eight European countries starting February 1, potentially rising to 25% in June unless the US can secure Greenland, while Denmark is increasing its military presence on the island. Markets now await Europe’s response as leaders prepare for an emergency summit Thursday, weighing potential retaliation. Analysts warned that Europe holds around $10 trillion worth of US bonds and stocks, some of which sit with public sector funds, that could be weaponized in this latest trade war. Meanwhile, platinum has seen volatility in recent sessions after Trump opted for now against imposing tariffs on critical minerals, such as platinum, instead ordering his administration to seek supplies from international trading partners.
