Gold, silver prices hit record high

LONDON, Jan 19 (AFP): Gold and silver prices hit record highs and stock markets slid Monday as investors sought safety after US President Donald Trump threatened fresh tariffs over opposition to his Greenland ambitions.

European countries including Denmark, of which Greenland is an autonomous territory, said they "stand united" against Trump's vow on Saturday to hit them with tariffs of up to 25 per cent unless Greenland is ceded to the United States.

"Gold surged to a record high and stocks wobbled as fresh worries about Greenland surfaced," noted Neil Wilson, investor strategist at Saxo UK.

Gold has broken record after record in recent months as the precious commodity, along with sister metal silver, benefits from safe-haven status.

The latest market unrest followed Trump's threats against Iran last week and the recent US ouster of Venezuelan president Nicolas Maduro which triggered volatility in the oil market.

Gold hit a peak of $4,690.59 an ounce on Monday, while silver struck an all-time high of $94.12 an ounce.