Gold hits new record

Gold prices surged to a record ‌above $4,800 per ounce on Wednesday, Reuters writes.

Spot gold climbed 2.1% to $4,862.19 per ounce.

“It’s the loss of trust in the U.S. caused by Trump’s moves over the weekend to tariff European countries and increase coercion in trying to take Greenland,” Kyle Rodda, a senior market analyst at Capital.com said.

On Tuesday, Trump said there was “no going back” on his goal to control Greenland, refusing to rule out taking the ⁠Arctic island by force and lashing out at NATO allies.