Silver jumped more than 4% toward $94 per ounce on Monday, hitting a new record high after US President Donald Trump threatened to impose new tariffs on eight European nations in a bid to gain control of Greenland, boosting demand for safe-haven assets. European leaders discussed potential retaliatory measures, including reviving last year’s plan to levy tariffs on US goods, while French President Emmanuel Macron reportedly called on fellow leaders to activate the EU’s anti-coercion instrument. Meanwhile, the metal came under pressure over the past two sessions after the Trump administration decided not to impose tariffs on critical minerals, including silver, which was added to the US critical minerals list last year due to its key role in green energy technologies and electronics. Structural supply deficits also made silver a critical asset, with the London market experiencing squeezes over the past year.
