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Gold and silver prices surged to new highs on Monday as investors flocked to safe-haven assets after US President Trump threatened to impose additional tariffs on European countries over the issue of control of Greenland. EU diplomats stated that EU ambassadors are preparing retaliatory measures in case of additional tariffs. "Geopolitical tensions have provided another reason for gold bulls to push gold to new highs," said Matt Simpson, senior analyst at StoneX. US stock index futures and the dollar slipped as Trump's latest tariff threat reinforced investors' preference for safe-haven assets such as gold, the yen, and the Swiss franc, leading to a broad rally in the market. Christopher Wong, strategist at OCBC Bank, stated: "In terms of silver, the medium-term outlook remains constructive as persistent physical supply shortages, resilient industrial demand, and safe-haven demand all provide support for silver." "However, given the recent pace of increase, short-term strategies may need to be more cautious." Wong also pointed out that the gold-silver ratio, which reached a high near 105 at the end of 2025, sharply declined to slightly above 50, indicating that silver's performance is more pronounced compared to gold.